Geezah Posted June 2, 2012 Report Share Posted June 2, 2012 Overnight, unannounced, I get a bill for reletting one of my many props from an agent I've been using for 10 years which has stated a fee of £350 + Vat (one months rent) as opposed to the usual £100 + Vat. Correct me if I'm wrong but I would estimate around 3 hours work involved in reletting. And yes, I know that £350 is equal to a months rent, it's also equal to my annual car insurance. My question is, do you think my agent is being unreasonable? What do you guys get charged? Link to comment Share on other sites More sharing options...
Melboy Posted June 2, 2012 Report Share Posted June 2, 2012 £350 + vat for tenant finding and associated referencing & tenant credit scoring is not unreasonable for a landlord with multi-let properties with the same LA. I guess it's all down to what your LA is prepared to deal on with you. Link to comment Share on other sites More sharing options...
Geezah Posted June 2, 2012 Author Report Share Posted June 2, 2012 Thanks for that Melboy, but really? The tenant referencing and scoring is charged to the tenant (they charged him £60) So tenant finding and moving him in, completing a tenancy is £350+vat. I 'm struggling to see that this is reasonable. Can't be more than a mornimngs work surely. Don;t be shy the rst of you, how much do you get charged? Link to comment Share on other sites More sharing options...
Richlist Posted June 3, 2012 Report Share Posted June 3, 2012 Thanks for that Melboy, but really? The tenant referencing and scoring is charged to the tenant (they charged him £60) So tenant finding and moving him in, completing a tenancy is £350+vat. I 'm struggling to see that this is reasonable. Can't be more than a mornimngs work surely. Don;t be shy the rst of you, how much do you get charged? I guess you have never had to run a business.......if you had you might appreciate all of the costs associated with it such as .......advertising, running costs for an office, staff costs, equipment costs, travel, drawing up an AST, referencing, deposit protection, S21, arranging standing order, inventory & schedule of condition, reporting matters to landlord. postage, telephone, taxes etc etc etc. 1. £60 charged to the tenant is low. My agent charges £160 for X1 person & £260 for X2 people. 2. £350 + vat is entirely reasonable. People out there are paying a lot more. Link to comment Share on other sites More sharing options...
Melboy Posted June 3, 2012 Report Share Posted June 3, 2012 Well I paid £400 some 7 years ago for a Tenant and that was the last time I paid an LA to do the work for me. So you really have two choices either pay for the work they do or do it all yourself. LA's are no different to EA's with their very high commission rates, in some cases, for what would appear to be an easy job but as I have always said nobody forces you through their door to sign up to their terms and conditions but if you do then you do so knowing what the charges are. In your case £100 was remarkably cheap for an LA fee and perhaps they should have advised you of a change in their fee structure to you as a multiple landlord. Link to comment Share on other sites More sharing options...
Chestnut Posted June 3, 2012 Report Share Posted June 3, 2012 When did you last pay £100? Since the house selling market has declined, to stay in business I think you'll find agents are having to be more realistic about letting charges. Link to comment Share on other sites More sharing options...
Geezah Posted June 6, 2012 Author Report Share Posted June 6, 2012 Looks like it was an admin error. Ive just been refunded £250. Thanks all for your thoughts on the subject. Link to comment Share on other sites More sharing options...
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