Rental, is £250 Admin fee too much?

speedtwin

not in my area

merched99

We had to pay £275 + VAT for the admin fee (a quarter of the monthly rent) plus £25 + VAT to have a guarantor. At first the agent wanted six months rent up front (!) because we aren't employed. But we have a pension and the proceeds of a house we have sold which they knew. What was really galling was that our guarantor (who was doing us a big favour) had to pay his accountant for some kind of statement for the agent, who then didn't follow it up so we and he seem to have paid the guarantor fees for nothing. Don't think those kind of fees are unusual round here though (Cardiff).

Gorgeous_George

I think it is expensive but, it may not be negotiable.

I think petrol is too expensive but, the garage insists the price is £1.06. If I don't like it, I can either walk to work or find a cheaper gagage. I usually pay up somewhat reluctantly (but I use a 5% cashback credit card). I think your friend may have a similar choice - pay up or look elsewhere.

GG

Tassotti

Fees are high for tenants through letting agents...Fees are also high for landlords through letting agents!!!

Answer...tenants ..go private

Landlords...do plenty of research, then go private!!!

Gorgeous_George

Yup, I don't use an agent but
1) I could offset the costs against tax
2) I have no recourse if I scew up and get bad tenants

My LL insurance doesn't require me to use an agent but maybe some do.

GG

speedtwin

There is no easy answer if you go private you could get a L/L who knows nothing about the law and be worst off. But we all know there are some agents like that as well. I would say go to a agent that is regulated and bonded such as a ARLA member but that is no guarantee either.

Gorgeous_George

speedtwin wrote: »

There is no easy answer if you go private you could get a L/L who knows nothing about the law and be worst off. But we all know there are some agents like that as well. I would say go to a agent that is regulated and bonded such as a ARLA member but that is no guarantee either.

If your LL knows nothing about the law but you do, surely you could exploit that. LLs risk more by NOT using professional services.

GG

two_sheds_2

These fees are such a rip off. A credit check costs £2 from Experian. The admin assistant's time is worth, what ? £8 for an hour's work?

It's just another money-making scam cos they have you over a barrel. My letting agents have wanted £100 every 6 months to re-sign a tenancy (totally unnecessary) and another £70 to swap flats with the one upstairs ... they didn't have to do any further credit checking or references, did they?

And did you know that local authorities pay about £250 as a golden handshake to private landlords who take on Benefit Claimants as tenants. No questions asked, no receipts required.

speedtwin

Gorgeous_George wrote: »

If your LL knows nothing about the law but you do, surely you could exploit that. LLs risk more by NOT using professional services.

GG

True but if the L/L doesnt comply with furniture, electrical, and gas regs you have more to lose YOUR LIFE

roses

In Bristol, I couldn't find a single agent charging less than 1/3 monthly rent + VAT