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Estate agent fees

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  • Estate agent fees

    Hello,

    I am a second year student and have just had to pay £120 in agency fees for my house in third year, but the house we are renting is owned by the agency. I thus am confused as to what I'm paying for with my £120, they have not found us a house, but just given us one of theirs, there has been no effort on their part, or atleast minimal, considering altogether we are paying £720 of agency fees. I'm a student, I am not loaded with money, and I don't want to think estate agents feel they can take advantage of us as they so often do.

    Any advice on if I can challenge the estate agents about this would be great.

    Thanks,
    RedAlice

  • #2
    Re: Estate agent fees

    The bottom line is that they can charge you want they want if other people are prepared to pay it.

    However they do incur costs for each tenancy as follows:

    1) Protecting your deposit: from £27
    2) Inventory: from £75
    3) Credit and criminal record check: from £20

    In addition they have to spend time checking each tenant's references and other crappy admin type jobs.

    So £120 is really not that bad, I am a landlord and recently had to fire a letting agent who was charging my tenants £265 each in admin fees.

    Sometimes you just have to swallow it and move on, unfortunately they have to make money as well.

    Alternatively you could just try and find a private landlord who does not use an agency as they often absorb all of these costs as they are not paying an agencies fees (approx 10% of all rent each month) but do you want the hassle no that you have moved in already ?

    Good Luck
    Adam Long

    www.quickhomeseller.co.uk

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