Estate Agency Tenancy Fees
Discussion
As you can see in my dishwasher thread, I'm going to rent a flat for a year in Bracknell. Would anybody like to see how much the estate agent is charging in fees?
There are items on this list that are three times more than any amount I have paid in the past 15 years. Tenancy agreement mainly.
Property is a 1 bed, unfurnished flat.
ETA - Guarantor isn't required hence it is not included in total, and greyed out.
There are items on this list that are three times more than any amount I have paid in the past 15 years. Tenancy agreement mainly.
Property is a 1 bed, unfurnished flat.
ETA - Guarantor isn't required hence it is not included in total, and greyed out.
I did wonder how long it would take them to do all of the above for £750 and so did a quick web search:
http://www.thisismoney.co.uk/money/mortgageshome/a...
£300 for a TA? 
£200 for inventory is also high.
As said, you don't have to rent from them but I would try and talk these two figures down, after all the LL is also paying them.
If you do take it, and 12 months later they come asking for £200 to renew the tenancy, tell them to go f
k themselves as you're entering a Statutory periodic tenancy at a cost of zero
£200 for inventory is also high.As said, you don't have to rent from them but I would try and talk these two figures down, after all the LL is also paying them.
If you do take it, and 12 months later they come asking for £200 to renew the tenancy, tell them to go f
k themselves as you're entering a Statutory periodic tenancy at a cost of zeroAt the end of the day, people search for properties, not estate agents. So it's a right kick in the nuts when you find the perfect place, and then find you're with the worst of the rip off agents.
I've given my opinion to the manager of the branch, and he has removed the admin fees. So a £120 reduction, bringing it more in line with other agents I've used before.
So I'm going ahead, but I agree that the lack of regulation in this industry is ridiculous. They are literally licensing themselves to print money.
And yes, £300 (£360 actually, with the VAT), for a tenancy agreement is just fking extortionate.
wkers.
ETA The cost of tenancy renewal after 12 months is a FURTHER £360. So I will tell them to fk off and go on a periodic agreement like I am now in my current property.
I've given my opinion to the manager of the branch, and he has removed the admin fees. So a £120 reduction, bringing it more in line with other agents I've used before.
So I'm going ahead, but I agree that the lack of regulation in this industry is ridiculous. They are literally licensing themselves to print money.
And yes, £300 (£360 actually, with the VAT), for a tenancy agreement is just f
king extortionate. w
kers. ETA The cost of tenancy renewal after 12 months is a FURTHER £360. So I will tell them to f
k off and go on a periodic agreement like I am now in my current property. Edited by AB8219 on Friday 21st August 22:03
Any job title that includes the word "agent" and you should assume you will get ripped off and the purveyors will by Shylocks.
OH is on the flip-side and also just been stung, and the agents have done absolutely bugger all work (asking the most stupid questions rather than just telling would be tenants "no"). Won't be subjected to them again next year...trouble is, most operate the same way.
OH is on the flip-side and also just been stung, and the agents have done absolutely bugger all work (asking the most stupid questions rather than just telling would be tenants "no"). Won't be subjected to them again next year...trouble is, most operate the same way.
AB8219 said:
ETA The cost of tenancy renewal after 12 months is a FURTHER £360. So I will tell them to fk off and go on a periodic agreement like I am now in my current property.
At least you know about SPT's. I'm always amazed at the amount of people who don't, and continue to pay for renewals even when you tell them.k off and go on a periodic agreement like I am now in my current property. Sir Bagalot said:
AB8219 said:
ETA The cost of tenancy renewal after 12 months is a FURTHER £360. So I will tell them to fk off and go on a periodic agreement like I am now in my current property.
At least you know about SPT's. I'm always amazed at the amount of people who don't, and continue to pay for renewals even when you tell them.k off and go on a periodic agreement like I am now in my current property. 
Justayellowbadge said:
Not always an option. Many LLs issue an S21 by default coming to the end of an AST.
I think a lot of the time this is the agents, not the landlord.A landlord doesn't really lose anything from a periodic tenancy, whereas with any change of tenant they are virtually guaranteed a void period.
A letting agent will be making some money every month it's occupied, but the big moneyspinner will be checkin / checkout fees as illustrated in the OP.
Luckily I've only had to rent one house, and the fees were extortionate - and even then I got off lightly compared to what some of my friends got charged. I'm sure there are some good letting agents out there - but the ones I had were lazy beyond belief, and I'm convinced were getting backhanders from the local one-man band tradesman they used.
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