Jump to content
House Price Crash Forum
Sign in to follow this  
finallysold

Exploitation Of Students- Ea Rentals

Recommended Posts

I was talking to a family friend who was entering second year of university. She was moving from campus accommodation to sharing a rental with three other friends about a mile away from campus for her second year at university. I don't know if she is naive or if this practice is now standard operating procedure. All four of them were required to pay admin fees of 240 pounds each, cool 960 pounds for pretty much no work. then they also had to pay 2 months rent during this summer vacation when the property would be empty. They will move into the property at the beginning of next academic year. The rent is about 320 pounds per month per student without utilities and other expenses. So they are collecting 2560 pounds rent even when the property is empty.

So in total they have collected 3520 pounds from the students before they have even moved in.

Is this common practice all over the country? I nearly didn't believe it but she assured me that it was very real. She feels a bit railroaded into it as the EAs were very rude when she questioned the admin fees. her friends were not too keen to kick up a fuss as they felt they did not have many other choices as they were a bit late searching compared to other students.

Even so, it strikes me as sheer exploitation.

Share this post


Link to post
Share on other sites

Paying for the summer (even if unoccupied) has been common practice for decades if you wanted to make sure the same house was "reserved" for you over the summer between your second and third year/to allow you to leave your stuff there etc. Usually the rent was reduced. As a recent graduate I once negotiated half rent for the entire summer - and then stayed there throughout. Or you would pay a deposit to reserve the place.

Then it seemed to spread to paying them even before you moved in (previously, we used to turn up a few days in advance and try to find a place before term started, not look for one before the summer holidays). I guess students like the certainty nowadays, or there's a perception you'll miss out on the best/anywhere to stay.

Never had to pay admin fees - but no doubt that's an import from the rest of the private rented sector.

Basically, if its a rentiers market as soon as one group of students feels obliged to pay the fees - it quickly becomes established as normal - and most students being young with relatively little life experience are ripe for the milking.

Luckily, for the students in my area I think we are entering into an era of massive oversupply. Hopefully, they are aware of that power shift.

Edited by StainlessSteelCat

Share this post


Link to post
Share on other sites

yes, i agree with you that they are easily milked for more money. but 960 pounds in admin fee seemed really exorbitant. I feel bad for the students in some ways. their universities exploit them with high fees as well. good for students in your area. I felt that the NUS or some such body could organise the students better so that they all refuse to pay these fees and make a big fuss about it. instead they are worried about whether to clap during meetings or use jazz hands instead

Share this post


Link to post
Share on other sites

instead they are worried about whether to clap during meetings or use jazz hands instead

There you go

Why do they need special representation, why is a private contract the business of a union when there's a market, they just sound a bit dippy...?

Share this post


Link to post
Share on other sites

I know plenty of renters who've been fleeced simply because the landlord or agency told them to give him lots of money, and they did

Share this post


Link to post
Share on other sites

I know plenty of renters who've been fleeced simply because the landlord or agency told them to give him lots of money, and they did

It is similar in this case, they were a bit intimidated and did not know better and just handed over the money because it is what you do to rent a house

re. NUS i did not mean for them to have special representation. what i would like is the NUS to actually help students instead of being the student wing of the labour party. As students they can have collective bargaining power in say every university and they can be harnessed to reduce such exorbitant admin charges.

Share this post


Link to post
Share on other sites

It is similar in this case, they were a bit intimidated and did not know better and just handed over the money because it is what you do to rent a house

re. NUS i did not mean for them to have special representation. what i would like is the NUS to actually help students instead of being the student wing of the labour party. As students they can have collective bargaining power in say every university and they can be harnessed to reduce such exorbitant admin charges.

Collective bargaining power works against large organisations, but in a market with lots of small organisations who are they collectively bargaining with?

Share this post


Link to post
Share on other sites

If this was in Scotland the agent has broken the law and the students should file a report with the Police.

Share this post


Link to post
Share on other sites

Collective bargaining power works against large organisations, but in a market with lots of small organisations who are they collectively bargaining with?

In most university towns, there are a few large rentiers. Offer to give them preferential treatment in terms of publicity etc to students in return for a better deal for said students.

Of course, this only works in places with oversupply - and providing the university isn't the source of the oversupply.

Share this post


Link to post
Share on other sites

In most university towns, there are a few large rentiers. Offer to give them preferential treatment in terms of publicity etc to students in return for a better deal for said students.

Of course, this only works in places with oversupply - and providing the university isn't the source of the oversupply.

exactly,, they can atleast kick up a fuss, place a few articles in the national media etc. i suppose it is an education of sorts for these students, or atleast the ones that realise that they are being exploited

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   99 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.