Question
Rental Agency charges (UK) - is this a total rip off?
I'm just asking for the experiences of others because, having found a property we thought we'd like to rent, we were asked for the following charges Prep. of Tenancy Agreement £55. + VAT = £63.25 Referencing Cost per applicant £30. + VAT = £34.50 Tenants share of cost for Prep.Inventory including Check in and Check our Report..... sliding scale £50. + VAT = £57.50 Apart from the VAT, which I'm afraid I resent paying to the Government, we are a married couple, with Joint Accounts. We'd also be using the same referee. I am assured by the Agency that they do require two applications, and do two checks....... I'm afraid I don't quite see it like this!!! How long does it take to prepare a pro-forma form (re the preparation of the Tenancy Agreement), and why the need to take up independent references when we are in effect, one and the same person. My sister, who is a landlord, recently was asked to give a reference on an outgoing tenant - the Agency (different one to this one) made one phonecall, asked her three questions about their outgoing tenant, which took .... UNDER FIVE MINUTES. Would it be worth taking up the Tenancy in the name of just one of us, and risk, in the event one of us dies, the remaining one being evicted? Apart from some feedback from others re these charges, I'd like to know whether there is a governing body for Agencies to whom my concerns can be addressed. Thanks! I'm asking because I'd like to know exactly WHAT these fees are for? .... we have been to view two properties with this Agency. In both cases we were not shown over the properties by an Agent, the first being left to the existing tenant, and the second, to the landlord. When we went into the office, on the second property, we were just handed a wad of forms to be filled in and that was it. Frankly I think this is shabby. And of course I'd expect to pay a solicitor a considerably higher fee for his expertise, but what expertise does an Agent require to sit behind a desk and hand out forms, and to fill in details on an existing form, and pick up the phone for 5 minutes!!! I truly wish I could access a property without involving these rip-off merchants. Sal - just because these figures would appear to be 'dirt cheap', to you, doesn't make this RIGHT!!
6 months ago - 3 answers
Best Answer
Chosen by Asker
I agree with Sal, these charges are reasonable. It sounds as if the agency is not very professional, it should never be left to the tenant, the agent is getting paid by the LL, this is for advertising(very dear) the property, showing prospective tenants the property (usually), helping them fill out the reference forms, It is not usually the agent that take up the references, but independent referencing agents, which have to be paid. Every tenant who lives at the property have to be referenced and placed on the tenancy agreement, whether your married , living together, sharing whatever. The agent has to draw up the agreement, and very often depending on the LL wants, there has to be changes. The agent often finds themselves negotiating between LL and Tenant on Rent, animals, furniture etc. You say you would be happy paying a solicitor for his expertise, but you do not think a letting agent is worth it. You will have more than likely dealt with an administrator, and these are sometimes not qualified with letting exams. A good agent has many exams under there belt, as well as experience, ( i did), that's what your paying for, and bearing in mine, they do not always just work for the LL, many times they are the buffer between LL and Tenant. So dispute what you believe, many of us are qualified and experienced in our field, or I was ! I you do not want to pay for the "rip-off merchants" they why not rent from a landlord directly/private letting. You then will have only the landlord to deal with, for rent, deposit, repairs ok if you get a good one, but there are many out there. But if you feel you can do better than the current agent, and save money, go for it. Good Luck
by alta
6 months ago
Asker's Rating: 
Other Answers
Thats dirt cheap We charge 65 per person referencing 150 for tenancy agreement
by Sal*UK- 6 months ago
Letting agents are running businesses, they would normally charge for all and any work they do, the charges you list are by no means above average for the tasks you describe. You would not be surprised if a solicitor charged you 50quid for a five minute phone call would you?
by Mike L- 6 months ago