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Letting Agency Thieves

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I fully agree. The argument is normally that you are free to shop around and use a different agent if you think they are unreasonable.

Unfortunately the reality is a little different, you normally have to rent some where of a roughly set size, in a specific area at a specific price point. So the choice diminishes often to this or nothing.

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How about billing them £400 for credit checking them, the landlord, and doing a search at the land registry to make sure the place isn't owned by someone else?

(Or better still how about both sides paying for their own "due diligence" operations, as happens in any other commercial transaction. Since when did house buyers send the bill for the survey to the vendor?)

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http://www.rightmove.co.uk/property-to-rent/property-44072564.html

£300 for reference checks. Something really needs to be done to regulate these thieves, as soon as possible. This is extortion.

Decide how much the rent is worth, then mentally deduct £300 of the cost of the rent for the length of the tenancy. Offer that. If refused, go elsewhere.

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You do know....you can haggle don't you.

You don't have to pay what they ask

If no one else is interested in the property then maybe.

But they can be evil and ask for a non-refundable fee and something apparently will show up on your credit score they are not happy with, but you aren't allowed to see, and they get the next tenant in.

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If no one else is interested in the property then maybe.

from the East Midlands forum:

http://www.home.co.uk/for_rent/northampton/current_rents?location=northampton

"Properties for Rent in Northampton by Price

No. of properties Average ToM*

Rent under £250 pcm 23 172 days

£250 to £500 pcm rent 170 144 days

£500 to £1,000 pcm rent 367 43 days

£1,000 to £2,000 pcm rent 34 93 days

£2,000 to £5,000 pcm rent 3 107 days

Rent over £5,000 pcm 0 -"

ToM is TIME ON MARKET.

Therefore some houses renting out at:

£250 to £500 pcm

are on the market for an average of

144 days

That's 4 months!!!!!

It's a fair bet and haggling you do will be successful.

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Decide how much the rent is worth, then mentally deduct £300 of the cost of the rent for the length of the tenancy. Offer that. If refused, go elsewhere.

Yep, I do similar. Its not always necessary to offer a lower amount, I simply add all the costs and divide it by the AST term number of months and decide if that cost is acceptable to me. I assume some deduction from the deposit as well.

This can show poor value due solely to the agents contribution to the overall cost, in which case, so be it ; I move on and the landlord has a longer void. Eventually they might learn to use cheaper agents.

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Its that wonderful private sector again. 'Competition drives down prices.' :lol:

Or at least that is what is supposed to happen.

Gone are the days when I had to pay £100 a year to get a standard AST contract photocopied and signed.

Edited by aSecureTenant

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