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SarahBell

Letting Agents Charging Ll Less

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http://www.landlordtoday.co.uk/news_features/Landlords-dont-need-to-spend-a-fortune-on-fees-says-5-letting-agent

Pay less for a letting agent says cheap letting agent

He also claimed that the company is also innovative in its approach to providing security for landlords through a guarantor scheme which is backed by Prestige Insurance. It means that tenants do not pay a deposit: instead they have a guarantor, normally a family member or close friend, who will act as an insurance and accept liability on behalf of the tenant.

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He also claimed that the company is also innovative in its approach to providing security for landlords through a guarantor scheme which is backed by Prestige Insurance. It means that tenants do not pay a deposit: instead they have a guarantor, normally a family member or close friend, who will act as an insurance and accept liability on behalf of the tenant.

Sounds like a good way round the deposit laws - get someone who wont want their financial name tarnished to back the letting then send them a bill for the usual made-up charge afterwards knowing they'l pay it.

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Sounds like a good way round the deposit laws - get someone who wont want their financial name tarnished to back the letting then send them a bill for the usual made-up charge afterwards knowing they'l pay it.

Indeed. Much better to just pay a deposit then withhold the last months rent. I always do that.

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http://www.landlordtoday.co.uk/news_features/Landlords-dont-need-to-spend-a-fortune-on-fees-says-5-letting-agent

Pay less for a letting agent says cheap letting agent

He also claimed that the company is also innovative in its approach to providing security for landlords through a guarantor scheme which is backed by Prestige Insurance. It means that tenants do not pay a deposit: instead they have a guarantor, normally a family member or close friend, who will act as an insurance and accept liability on behalf of the tenant.

And what about people who can't get a guanrantor? Your "close" friend would also have to be a very foolish friend to do it and not everybody has family members who qualify.

tim

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Sounds like a good way round the deposit laws - get someone who wont want their financial name tarnished to back the letting then send them a bill for the usual made-up charge afterwards knowing they'l pay it.

Like Savills charging me 50 quid to replace a lightbulb cos they needed an electrician in to install it?

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Like Savills charging me 50 quid to replace a lightbulb cos they needed an electrician in to install it?

ouch! My letting agent went around and cleaned one of my flats before the most recent set of tenants moved in free of charge.

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Like Savills charging me 50 quid to replace a lightbulb cos they needed an electrician in to install it?

That's extortion. Why would that be coming out of a damage deposit anyway? Did you smash the bulb by any chance?

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Indeed. Much better to just pay a deposit then withhold the last months rent. I always do that.

My deposit was 1 1/4 x the monthly rent.

I'm confident that only deductions for proper 'damage' will be made at the end because I used a rental agency. The contract actually states that fair wear and tear is expected. Mind you, the £100 credit check / application fee annoyed me when I had the funds to buy the place if I wanted.

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That's extortion. Why would that be coming out of a damage deposit anyway? Did you smash the bulb by any chance?

because the (incoming) inventory check said "all lights working" (or whatever) and if you don't give it back "all lights working" they are entitled to charge you for making it so

tim

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My deposit was 1 1/4 x the monthly rent.

I'm confident that only deductions for proper 'damage' will be made at the end because I used a rental agency. The contract actually states that fair wear and tear is expected. Mind you, the £100 credit check / application fee annoyed me when I had the funds to buy the place if I wanted.

What annoys me is that they suggest that I won't pass a credit check (because I'm not working - and not yet retired) when I have the funds available to buy the place twice over, if I wanted

tim

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because the (incoming) inventory check said "all lights working" (or whatever) and if you don't give it back "all lights working" they are entitled to charge you for making it so

tim

Doesn't work that way.

After x years, the landlord cannot expect to have the flat returned with a new lightbulb.

At best, he can claim the value of an x year old lightbulb.

In other words, the landlord bears the cost of any natural ageing of all fixtures and fittings.

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