Jump to content


Photo
- - - - -

Letting Agents Charging Ll Less


  • Please log in to reply
10 replies to this topic

#1 SarahBell

SarahBell

    I live on HPC!

  • Members
  • PipPipPipPipPipPipPip
  • 17,113 posts
  • Location:Mars.

Posted 30 March 2012 - 08:08 AM

http://www.landlordt...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.
Whoever you are, I have always depended on the kindness of strangers.

#2 RufflesTheGuineaPig

RufflesTheGuineaPig

    is fluffy

  • New Members
  • PipPipPipPipPipPipPip
  • 8,038 posts
  • Location:Cricklade, UK
  • About Me:I am Ruffles, the destroyer of worlds....

Posted 30 March 2012 - 08:38 AM

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.
It's time to pay the piper. There is no magician who will magic away the debt. Someone is going to have to pay it. Bend over and prepare to make payment.

In this glorious nation of ours, if you work hard and keep your head down for 25 years then you too can aspire to own one-eighth of a one bedroom flat in Manchester.


My mum and day always tell me how important it is to save to buy a house. They should know, it took them nearly 6 months to save for theirs. As teenagers, they bought a 3 bed semi.

#3 Sine270

Sine270

    HPC Veteran

  • Members
  • PipPipPipPip
  • 2,217 posts

Posted 30 March 2012 - 11:32 AM

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.

#4 tim123

tim123

    HPC Senior Veteran

  • New Members
  • PipPipPipPipPip
  • 3,739 posts
  • Location:hants

Posted 31 March 2012 - 11:33 AM

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

#5 tboy

tboy

    HPC Poster

  • Members
  • PipPip
  • 198 posts

Posted 31 March 2012 - 12:53 PM

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?

#6 davidg

davidg

    HPC Veteran

  • Members
  • PipPipPipPip
  • 2,627 posts
  • Location:FR

Posted 31 March 2012 - 06:22 PM

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.

#7 jammo

jammo

    HPC Veteran

  • Members
  • PipPipPipPip
  • 2,151 posts

Posted 31 March 2012 - 07:17 PM

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?
Politics comes from the Greek (Poli - Many; Tics - Lies)

#8 deflation

deflation

    HPC Senior Veteran

  • Members
  • PipPipPipPipPip
  • 4,197 posts
  • Location:Stourbridge

Posted 31 March 2012 - 07:21 PM

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.

#9 tim123

tim123

    HPC Senior Veteran

  • New Members
  • PipPipPipPipPip
  • 3,739 posts
  • Location:hants

Posted 01 April 2012 - 10:14 AM

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

#10 tim123

tim123

    HPC Senior Veteran

  • New Members
  • PipPipPipPipPip
  • 3,739 posts
  • Location:hants

Posted 01 April 2012 - 10:16 AM

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

#11 (Blizzard)

(Blizzard)

    HPC Veteran

  • Members
  • PipPipPipPip
  • 2,315 posts

Posted 01 April 2012 - 10:28 AM

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.

"As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce. The wood of the forest, the grass of the field, and all the natural fruits of the earth, which, when land was in common, cost the labourer only the trouble of gathering them, come, even to him, to have an additional price fixed upon them. He must then pay for the licence to gather them; and must give up to the landlord a portion of what his labour either collects or produces. This portion, or, what comes to the same thing, the price of this portion, constitutes the rent of land ...." Adam Smith: The Wealth of Nations[17]




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users