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Toto deVeer

Whats This All About : A New Marketing Ploy?

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A relation (recent graduate) is interested in taking up an entry level position with a business near Liverpool. He went up to have a look at flats to rent.

He selected an unfurnished 1 bdrm flat in a decent area of Cheshire. Contacted the letting company named Andrews.

After expressing that he wanted the place, here's the deal from Andrews: it turns out that Andrews is not the letting agent, but a marketing firm. There's another management company and the landlord. Three parties. Total cost? Monthly let £360. Deposit £500. Andrews Fee (?) £250. Total up front cost £1110 for a 1 bedroom, unfurnished apt in a small village. Not even a refrigerator.

What's this all about? Is this based upon demand/std practice, or is it simply an attempt to rip off a tenant?

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A relation (recent graduate) is interested in taking up an entry level position with a business near Liverpool. He went up to have a look at flats to rent.

He selected an unfurnished 1 bdrm flat in a decent area of Cheshire. Contacted the letting company named Andrews.

After expressing that he wanted the place, here's the deal from Andrews: it turns out that Andrews is not the letting agent, but a marketing firm. There's another management company and the landlord. Three parties. Total cost? Monthly let £360. Deposit £500. Andrews Fee (?) £250. Total up front cost £1110 for a 1 bedroom, unfurnished apt in a small village. Not even a refrigerator.

What's this all about? Is this based upon demand/std practice, or is it simply an attempt to rip off a tenant?

Not sure what you are asking really

Andrews is an EA (well it is where I come from) and the flat is owned by a LL. It could be that this LL is a company that owns lots of flats and they just use an EA to find them tenants and them manage them themselves. This is exactly how my LL works.

Whilst I accept that the 250 pounds fee is a bit on the high side, charging fees for checking the tenant's credit rating etc is quite normal, though they aren't allowed to charge a finders fee, it has to be for other things.

You can't complain about the deposit it's in the normal range.

HTH

tim

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Not sure what you are asking really

Andrews is an EA (well it is where I come from) and the flat is owned by a LL. It could be that this LL is a company that owns lots of flats and they just use an EA to find them tenants and them manage them themselves. This is exactly how my LL works.

Whilst I accept that the 250 pounds fee is a bit on the high side, charging fees for checking the tenant's credit rating etc is quite normal, though they aren't allowed to charge a finders fee, it has to be for other things.

You can't complain about the deposit it's in the normal range.

HTH

tim

Thanks Tim. I've never seen a deposit that is more than one month's rent, and I've never seen an up front fee either. That's why I was seeking others experiences. Seems quite steep to me; £1110 up front for a 360/month unfurnished flat.

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All seems regular.

Our rent is £750 per month. Left a deposit of £1100 at the start, plus £99 EA fee, plus first months rent. Nearly 2 grand up front. Ouch, but should get all deposit back. Plus when we move out the rent will work in our favour (I.e rent is payed a month in advance, pay last £750 then move out 30 days later with no more to owe)

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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