Private rented properties - agents' fees?

[Pandora]

Hello, we're just about to move into a new private rented property (3 of us, 3 bedroomed house) and the estate agent is charging us ?275 + VAT (so ?316.25) for their fees. I don't really have an opinion as to whether this is high or low as I haven't moved through an agent before, so I just wanted to see if people thought that was a fair cost or not?

One way I'm looking at it is that based on what my company charge for my day rate, you'd get a bit more than half a day of my time.. which including viewings is probably what the admin will take them.

[Strawbs]

We are privately renting and didnt pay any fee but went straight to the landlord (which is what I thought as private rental was) so cant help unfortunately.. someone else may be able to let you know what they pay if they went through an actual agent..

[Pandora]

Ah, I meant private rental as in not through housing association/council. Yup, would be ideal to go straight to the landlord but sadly the house we want is with an agency!

[red devil]

Most agents charge fees to tenants and the landlord. Why don't you ring around and check what this fee is with other agents if you are unsure whether it is a fair cost or not...

[Jeremy]

Pandora Wrote:

-------------------------------------------------------

> One way I'm looking at it is that based on what my

> company charge for my day rate, you'd get a bit

> more than half a day of my time.. which including

> viewings is probably what the admin will take

> them.

I wouldn't look at it that way... they already take a healthy commission from the rent, they don't "deserve" this admin fee. It's basically a rip-off, but they all do it, so you don't really have much choice!

[red devil]

All fees are negotiable Jeremy, it's surprising what they'll accept if people just ask...

[Pandora]

I agree with Jeremy, I don't feel like we have much choice! Even if I could say 'well this other estate agent is only charging ?100' then would it actually do me any good, as the property that we want is only on with one agent, and it really isn't a renters' market at the moment, properties are going very quickly in our experience. We did manage to negotiate the rent down though, so that's certainly still an option!

This is my version of ringing round - thought a straw poll on the EDF would be as useful. And I've had enough of talking to estate agents for one week!

[bigbadwolf]

Hi Pandora.

I too suffered at the hands of agent fees at my last place. They had this clause in their contract that I admittedly overlooked that stated that they reserved the right to enter the property if there was a complaint such as water coming through downstairs ceiling or dodgy smells coming from the flat.

I came home one day after work to find a note tacked to the door stating that they'd recieved a complaint informing them that a nasty smell was coming from the flat so they had to force their way in (they had keys) in order to investigate. They found nothing or any smell associated with what they were or weren't looking for but billed me for the door and for the 'inconvenience' I had caused. Two more of these visits occured after that and in total they fleeced me for about ?70

I was furious with them but had to bare it and pay up. I was also coming to the end of my tenancy so I decided that it would be fair for me to disconnect and sell the hot water boiler to the tune of about ?350 online. They inquired as to where the hell their boiler had gone, so I told them it must have been the builders that kept popping round. I haven't heard anything from them since, the w_nkers.

[EDKiwi]

Agent fees are a rip off, as others have already said they charge the landlord to find tenants, take a commission from the rent and they also try and charge the tenants to move in. Our last agent also tried to charge us a 'checkout' fee to leave the property. We told them where to go, especially as they had advertised the property as having gas central heating when it didn't (we had noticed that when we looked at the place though) but even after we informed them that they were once again advertising it with GCH they didn't change their ads. I just hope the poor buggers who moved in noticed it as it was heading into winter when we left.

[Kells]

Mine tried to charge an extra ?500 as a pet deposit. I told them I had a cat, not a tiger, and threatened to pull out entirely. But then, my landlord is the dulwich estate, and I get the impression they don't have as much personal involvement as the average private landlord.

It's a con, but I think you just have to pay.

[karter]

Another thread on agents, yipee.

The bigger agents have many 'hidden' fees that you eventually find out about, one of which that EDkiwi has discussed. You should negotiate though or go elsewhere. The smaller agents don't charge tenants for finding properties and even though most use the same property web sites for renting out gotto say that one of the biggest firms on LL have always been the quickest to find a tenant for friends in the area. (Not Fxtns).