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shakespeare

Dirty Tricks Against Letting Agent By Estate Agents

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Hi,

This is my first post although I have been following this site for a few months. The advice on here has been extremely helpful and I appreciate the time and effort taken by people to respond to others questions.

In my area (South Hampshire) rental demand has increased dramatically over the last 6 - 12 months. I have put this down to STRs who managed to get out of the market before the downturn that is upon us now. Many STRs have used the services of Estate Agents who have suddenly sidelined into lettings, presumably to stop them from going bankrupt :lol: .

The Estate Agent Letting departments are just as underhand, slimey and ruthless as the estate agents themselves, often shafting both landlords and tenants alike. These letting departments are also members of ARLA (Association of Residential Letting Agents) which is meant to regulate this industry, but this has made no difference at all. Many STRs have complained about the bad service and secret rip-off charges made by these estate agents.

This is not a plug (My agency name or town will not be mentioned in these posts), but needs to be mentioned so I can get some advice from the STR's on this forum :-

I have been considering starting a letting agency for a few years now and now feel the time is right to start. My agency opens next month dealing only in lettings and aims to provide an open and honest service to landlords and tenants alike. Our charges will be transparent and being an independent family business, hope to gain some tenants and landlords from the estate agents who have sidelined into lettings. I would also enjoy seeing some of these estate agents shutting down. Why should they try and sideline into lettings when they didn't bother a few months ago when there wasn't as much profit as there is in sales?

I would appreciate your advice and any tips in starting my lettings business - I know the estate agents are going to play some dirty tricks as soon as I open my doors opposite them!

Many Thanks in advance for your replies. :)

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Hi,

This is my first post although I have been following this site for a few months. The advice on here has been extremely helpful and I appreciate the time and effort taken by people to respond to others questions.

In my area (South Hampshire) rental demand has increased dramatically over the last 6 - 12 months. I have put this down to STRs who managed to get out of the market before the downturn that is upon us now. Many STRs have used the services of Estate Agents who have suddenly sidelined into lettings, presumably to stop them from going bankrupt :lol: .

The Estate Agent Letting departments are just as underhand, slimey and ruthless as the estate agents themselves, often shafting both landlords and tenants alike. These letting departments are also members of ARLA (Association of Residential Letting Agents) which is meant to regulate this industry, but this has made no difference at all. Many STRs have complained about the bad service and secret rip-off charges made by these estate agents.

This is not a plug (My agency name or town will not be mentioned in these posts), but needs to be mentioned so I can get some advice from the STR's on this forum :-

I have been considering starting a letting agency for a few years now and now feel the time is right to start. My agency opens next month dealing only in lettings and aims to provide an open and honest service to landlords and tenants alike. Our charges will be transparent and being an independent family business, hope to gain some tenants and landlords from the estate agents who have sidelined into lettings. I would also enjoy seeing some of these estate agents shutting down. Why should they try and sideline into lettings when they didn't bother a few months ago when there wasn't as much profit as there is in sales?

I would appreciate your advice and any tips in starting my lettings business - I know the estate agents are going to play some dirty tricks as soon as I open my doors opposite them!

Many Thanks in advance for your replies. :)

Well I know one trick which was played when we were looking at renting a house which was up for sale with

an EA and up for rent with a lettings agency. The EA had the keys and the lettings agency could not get the keys off

them to show us round. Even though the owner told the EA to let them have the keys whenever they asked.

The EA went into rentals and then the owner switched to them to both rent or sell the house.

Then we still had problems because the selling dept would not give the keys to the letting dept even though it was the same company. It was only when I explained the situation to the lettings dept who then kicked up a fuss did they finally get the keys. The selling dept and letting dept were in competition with each other, if the house sells then thats one house less for the letting dept to rent out. If the lettings dept rent it out thats one house less to sell.

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Well I know one trick which was played when we were looking at renting a house which was up for sale with

an EA and up for rent with a lettings agency. The EA had the keys and the lettings agency could not get the keys off

them to show us round. Even though the owner told the EA to let them have the keys whenever they asked.

The EA went into rentals and then the owner switched to them to both rent or sell the house.

Then we still had problems because the selling dept would not give the keys to the letting dept even though it was the same company. It was only when I explained the situation to the lettings dept who then kicked up a fuss did they finally get the keys. The selling dept and letting dept were in competition with each other, if the house sells then thats one house less for the letting dept to rent out. If the lettings dept rent it out thats one house less to sell.

Thanks for the insight, I certainly expect a load of problems such as you mentioned from these Estate Agents. As for keys not being given over, maybe I will phone the landlord whilst standing in front of the EA and let them explain to him/her why they are not prepared to hand over the keys...what do you think?

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Thanks for the insight, I certainly expect a load of problems such as you mentioned from these Estate Agents. As for keys not being given over, maybe I will phone the landlord whilst standing in front of the EA and let them explain to him/her why they are not prepared to hand over the keys...what do you think?

If it is your own business then it is the sort of thing you would do, but if you are just an employee its not the sort of

hassle you need.

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good luck with your business. I have been on both sides of the fence, renting and also letting a property out whilst I was relocated for work. In my experience, honesty and integrity go a long way but very few LAs seem to remember this.

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I would also enjoy seeing some of these estate agents shutting down. Why should they try and sideline into lettings when they didn't bother a few months ago when there wasn't as much profit as there is in sales?

Probably for the same reason as you are NOW going into being a LA.

I wish you as much luck as you wish the other businesses. Don't expect to make any friends from other members of the estate agency world with an attitude like that.

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Well I know one trick which was played when we were looking at renting a house which was up for sale with

an EA and up for rent with a lettings agency. The EA had the keys and the lettings agency could not get the keys off

them to show us round. Even though the owner told the EA to let them have the keys whenever they asked.

The EA went into rentals and then the owner switched to them to both rent or sell the house.

Then we still had problems because the selling dept would not give the keys to the letting dept even though it was the same company. It was only when I explained the situation to the lettings dept who then kicked up a fuss did they finally get the keys. The selling dept and letting dept were in competition with each other, if the house sells then thats one house less for the letting dept to rent out. If the lettings dept rent it out thats one house less to sell.

snap, this is happening at the moment with me, owner asks a seperate letting agent to let the property while still on the market, letting agent says cant get keys, it now all makes sense, thanks

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Probably for the same reason as you are NOW going into being a LA.

I wish you as much luck as you wish the other businesses. Don't expect to make any friends from other members of the estate agency world with an attitude like that.

What makes you think I don't already manage properties?

Thanks, but making friends with estate agents isn't and never has been my intention.

Edited by shakespeare

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  • 297 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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