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MSE News: OFT wants crackdown on surprise letting charges

Former_MSE_Helen
Former_MSE_Helen Posts: 2,382 Forumite
in House buying, renting & selling
"The regulator is calling for a number of changes to be made to make sure tenants and landlords aren't ripped off..."
Read the full story:

OFT wants crackdown on surprise letting charges

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Comments

  • G_M
    G_M Posts: 51,977 Forumite
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    Excellent news - long overdue.

    And, I believe, far more useful than the Scottish system of compulsory registration of landlords. Sorry artful!
  • Naf
    Naf Posts: 3,160 Forumite
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    It's not just charges after the fact; the charges they can levy just for the checks they do (or don't do) can be daylight robbery too. Costs them £10 plus a little in-house admin... Charge to prospective tenant is £50-100.
    Never argue with stupid people, they will drag you down to their level and then beat you with experience.
    - Mark Twain
    Arguing with idiots is like playing chess with a pigeon: no matter how good you are at chess, its just going to knock over the pieces and strut around like its victorious.
  • G_M
    G_M Posts: 51,977 Forumite
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    Naf wrote: »
    It's not just charges after the fact; the charges they can levy just for the checks they do (or don't do) can be daylight robbery too. Costs them £10 plus a little in-house admin... Charge to prospective tenant is £50-100.
    A commonly-quoted misconception. Though I take you point about someof the mark-ups.

    But at least this is addressing transparancy, as well as surprise charges.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Name Dropper Photogenic First Anniversary First Post
    It should be made law that they have to give you a printed full charges sheet at every viewing .... and have it clearly available on their website ..... and posted on their window.
  • Naf
    Naf Posts: 3,160 Forumite
    First Anniversary First Post Combo Breaker
    G_M wrote: »
    A commonly-quoted misconception. Though I take you point about someof the mark-ups.

    But at least this is addressing transparancy, as well as surprise charges.

    Really? Because when I posed as a LL to the company the last LA used for us, that's what they quoted me (with a subscription).
    Never argue with stupid people, they will drag you down to their level and then beat you with experience.
    - Mark Twain
    Arguing with idiots is like playing chess with a pigeon: no matter how good you are at chess, its just going to knock over the pieces and strut around like its victorious.
  • G_M
    G_M Posts: 51,977 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    edited 15 February 2013 at 1:07AM
    Naf wrote: »
    Really? Because when I posed as a LL to the company the last LA used for us, that's what they quoted me (with a subscription).
    I'm really hesitant to hijack this thread into a debate about specific charges, but:

    1) take a look at the prices charged by the independant Providers the letting agents use: Letsure; Paragonadvance; Homelet; etc etc (google for more). Prices start around £15 for the most basic 'check', and rise to £50-£70 for the more extensive searches and full referencing

    Agreed - we hear here of complaints/suggestions that some agents charge for full referencing but then don't do it etc etc. That is a problem (for their landlords as much as their tenants!), but it's a different problem, and does not apply to all agents.
  • Clearlier
    Clearlier Posts: 168 Forumite
    Absolutely needs to be done. Was extremely unimpressed by the LA who having sent us lots of paperwork and given us a schedule of charges when we agreed to take the property added an extra one when we went into the office to sign - £6 per month for registering the deposit.

    LA knew that we had already moved out of our previous properly putting our furniture in storage because the date was important to us and they had got it wrong at the viewing. Did we not tell you about this charge? Very sorry, must have been an oversight. I'm afraid there's nothing we can do about it. When I pointed out that this was no reflection of the small one off charge made by the deposit agencies I was told that I could take it or leave it.

    I would have liked to leave it as their subsequent behaviour reflected that early interaction however with 2 very young children I had to swallow it.
  • DaleN
    DaleN Posts: 27 Forumite
    We had a letting agent once who had no dealings at all with us after the initial contract, except to send an annual letter asking if we wanted to renew. All my dealings were directly with the landlord. On one occasion they included a "renewal" fee of £30. My contract is with my landlord (his name is on it) and I far as I am concerned I have no relationship with any letting agent and therefore have no obligation to them. If they want it they can get it from the landlord (I'm sure they are anyway) but they're not getting it from me. They can try to get the landlord to kick me out if they like, but we're good tenants - pay rent on time and don't cause him any problems (better than the previous tenants, according to neighbours) - so if he wants to go to the expense of finding new tenants and run the risk of them being worse than us, that's up to him. I suspect he won't.
  • tim123456789
    tim123456789 Posts: 1,787 Forumite
    First Post First Anniversary Combo Breaker
    I don't think what is proposed is enough IMHO

    I have never come across "charges introduced once contracts had been signed".

    Most agents are up front with their fees, but they still a rip-off and ought to be regulated.

    We need regulation here on quantum not information

    tim
  • newsgroup_monkey
    newsgroup_monkey Posts: 849 Forumite
    I've written to the OFT saying exactly this. I have been in contact with my MP and received a written response from the minister for housing about this as well.

    Reading between the lines, they don't want to resort to the measures in Scotland (well, it's not very Conservative after all). They also don't really see the problem.

    It's one thing having charges, but they should be putting pressure on ARLA or whoever to standardize them so that we all know where we stand.
    The smaller the monkey the more it looks like it would kill you at the first given opportunity.
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