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  • #1

    Letting Agents - Resonable Fees and Requests

    Hi All,

    I think this will be a PlanB thread (being the head honcho in this area) But I was wondering what peoples experiences are with Estate Agents when planning to rent a property in regards to fees and also other requests (like Reference Requests etc)

    I have recently been to view a property in the Manchester Area and on asking about the deposit and admin fees was greeted with the following follow up question and then a further suggestion to advocate a not so honest truth in response, which I was a tad uncomfortable with being placed in that situation and am concerned that I actually may have something similar from other letting agents.

    I was asked if I was "still in a Probationary Period" to which the answer was Yes (and will be until August 2015) and on sharing this with the estate agent I was met with "well you will need a letter off of your employer saying that you aren't in a Probationary Period" to which I rightly responded with "But that wouldn't be a truthful statement from my employers - and quite frankly I'm not comfortable approaching and asking them to do this"

    Anyway the conversation moved on to "well you'll need a guarantor" to which I'm sat thinking "My Take-Home is almost 4x the rental price - surely they wont need me to get a Guarantor - however i'm sure my Gran would do it as she knows that it wont be an issue for me to afford this place else I wouldn't be looking at it."

    So am I being Unrealistic or just a tad Cautious about this estate agents - The house ticked all of my boxes for suitability (for as of right this moment - though that may all change, Should be clearer on this on Thursday)

    What is everyones thoughts?? And also Whats the Worst Questions etc that Estate agents have asked/told you about a property just to close the deal?
    I am an IT Professional with a Background in most Microsoft Based Technologies. Currently Proud to Work at one of the Leading UK Universities. I have that Mentality of "If I can provide Useful Input - then I will Try my best to do so"

    Life is full of Ups and Downs. Shame it just aint simple.
    Tags: 2015, agency, agents, bank, christmas, con, contracts, credit, employers, employment, estate, fees, flat, fun, guarantor, hmrc, home, house, household, income, letter, letting, letting agents, manchester, mas, money, phone, property, questions, rac, reference, rent, tax, wife, working
  • #2
    Re: Letting Agents - Resonable Fees and Requests

    Morning Kilasuit,
    I'm sure Plan B will go into it more, but I think it's pretty standard for them to want proof that your income is permanent, and to require a guarantor if it isn't. I was guarantor for my kids through uni and was credit checked, will your Gran be OK with that?

    Elsa x

    Comment

    • #3
      Re: Letting Agents - Resonable Fees and Requests

      both of ours needed a guarantor when they were at uni, and although DD and her partner have been working in their chosen profession for 6 years, they work on contracts and still need to prove they have forward bookings for their flat landlord.

      Comment

      • #4
        Re: Letting Agents - Resonable Fees and Requests

        Its been 4 years since I rented anywhere. But for me and my wife, and her sister, we needed proof of income, for them it was payslips, for me being self employed, it was tax statements from HMRC for 3 years, and bank account showing a balance which would cover the rent for the term. I would imagine its more strict now, I don't know.
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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        • #5
          Re: Letting Agents - Resonable Fees and Requests

          If you assume that all estate agents are lowlife scum then they will meet your expectations

          What is it about these unqualified workers which makes them think they're suddenly judge and jury of the situation? It's the reference agency which makes the decision as to whether a tenant is an acceptable risk not them.

          Actually your enquiry comes at the same time as the Daily Telegraph exposed agents this weekend for all sorts of "Dirty Tricks" which included (No 3 on the list) turning down perfectly acceptable tenant references

          http://www.telegraph.co.uk/finance/p...t-returns.html

          In your case you sound like the ideal Tenant because you have a job which pays well. If you have a probationary period ending in August 2015 it would be safe to allow you a tenancy agreement which runs up until that date which could then be renewed when the job becomes permanent. Even people in long-standing employment can become vulnerable to redundancy since no job is immune to market downturns etc. Is the agent's worry that during the probationary period you could be fired without notice?

          But more importantly I've never known a reference agency ask if the job was probationary. The reference forms are brief asking simply the name of your employer and how long have you've worked there (sometimes previous employer if it's a short time). The reference agency such as MARAS, Letsure etc phone up HR and ask "does he work for you and how much does he earn". They'll then tick that box and phone the previous Landlord for a quick chat, and that's about it.

          The agent wants to let the property because that's how they make money. In my experience the agent is the one who will lie to the Landlord (or is economical with the truth) simply to get the Tenant accepted.

          You can offer your Gran as a potential guarantor but that shouldn't be necessary. If you do go down that route make sure that she's only named as the Guarantor until your probationary period is over in August 2015.

          Have you got the last three months decent bank statements?

          Comment

          • #6
            Re: Letting Agents - Resonable Fees and Requests

            Well,

            I rang up and the property has been let - So this evening will be spent checking for other places now - Muchous Fun :-(
            I am an IT Professional with a Background in most Microsoft Based Technologies. Currently Proud to Work at one of the Leading UK Universities. I have that Mentality of "If I can provide Useful Input - then I will Try my best to do so"

            Life is full of Ups and Downs. Shame it just aint simple.

            Comment

            • #7
              Re: Letting Agents - Resonable Fees and Requests

              Originally posted by kilasuit View Post
              The house ticked all of my boxes for suitability (for as of right this moment - though that may all change, Should be clearer on this on Thursday)
              What happened last Thursday?

              I hope it was something to do with you having to accommodate more people in your household other than just you. Maybe some little people

              Comment

              • #8
                Re: Letting Agents - Resonable Fees and Requests

                Originally posted by PlanB View Post
                What happened last Thursday?

                I hope it was something to do with you having to accommodate more people in your household other than just you. Maybe some little people
                Well - Currently as things stand its not a likelyhood - although I do need to provision for an incase scenario.

                This Thursday however should bring me some further news on the whole situation including whether I may have a place sorted for Christmas or not.
                I am an IT Professional with a Background in most Microsoft Based Technologies. Currently Proud to Work at one of the Leading UK Universities. I have that Mentality of "If I can provide Useful Input - then I will Try my best to do so"

                Life is full of Ups and Downs. Shame it just aint simple.

                Comment

                • #9
                  Re: Letting Agents - Resonable Fees and Requests

                  Avoid any properties wherein Mr Karl Nolan or any of his companies may be involved.

                  http://companycheck.co.uk/director/9.../MR-KARL-NOLAN

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