coldel Posted March 15, 2013 Share Posted March 15, 2013 ...just renewing our rent agreement, estate agent sends us extra documentation to sign (one page, our name and addresses on, signature at the bottom) and a fee of £120 for admin. I would suspect this is standard procedure for a new tenant given all the checks and contract preparation but to just prepare a bit of A4 with nothing but two peoples name and address on, £120? Really? Sounds like easy money to me i.e. a common industry rip off. I would like to know how this 'admin' has cost the agency £120. A quick google didnt turn up any solid results... Quote Link to comment Share on other sites More sharing options...
Ekona Posted March 15, 2013 Share Posted March 15, 2013 Sounds like a generic figure to me. You can either try and haggle it or you'll have to pay it. Quote Link to comment Share on other sites More sharing options...
coldel Posted March 15, 2013 Author Share Posted March 15, 2013 Been reading more on it, we have an assured shorthold tenancy, which in effect gives you little rights into the renewal fee. Although, its the same fee we paid for the initial set up so I will query it. Quote Link to comment Share on other sites More sharing options...
smudgedon Posted March 15, 2013 Share Posted March 15, 2013 Used to be in lettings myself, all "admin fees" are complete bollocks I would say that you're not paying it, but of course it's up to the estate agent whether or not they accept that This was about 5 years ago, but we used to charge something like: £60 reference fee per tenant £120 tenancy agreement fee £50 security deposit registration fee and a few other odds and sods. 100% markup as it's just a fee that they used to stick onto anything Who's the agent you're going through if you don't mind me asking? Quote Link to comment Share on other sites More sharing options...
Ricey Posted March 15, 2013 Share Posted March 15, 2013 The fees are unregulated unlike financial services Quote Link to comment Share on other sites More sharing options...
AliveBoy Posted March 15, 2013 Share Posted March 15, 2013 ...just renewing our rent agreement, estate agent sends us extra documentation to sign (one page, our name and addresses on, signature at the bottom) and a fee of £120 for admin. I would suspect this is standard procedure for a new tenant given all the checks and contract preparation but to just prepare a bit of A4 with nothing but two peoples name and address on, £120? Really? Sounds like easy money to me i.e. a common industry rip off. I would like to know how this 'admin' has cost the agency £120. A quick google didnt turn up any solid results... Ask them. Any reputable company should be able to justify their costs. I work in expatriate tax, we frequently get people asking what things on their invoice mean/cover, almost every time we will explain what was carried out and the client will be happy and pay the invoice. If they can't justify it, tell them that you won't pay it until they can. Just my 50p Quote Link to comment Share on other sites More sharing options...
coldel Posted March 15, 2013 Author Share Posted March 15, 2013 Its Savills, and the landlord has just stuck a rent increase on it. So May when we renew it will in effect cost us an extra £200. I think everyone knows a lot of letting agent fees are just for beer tokens and a rip off, I guess I just wanted to know if its worth my while haggling. Quote Link to comment Share on other sites More sharing options...
smudgedon Posted March 15, 2013 Share Posted March 15, 2013 Definately worth a go We used to drop at least one of the fees if people contested it (only about 1 in 10 people ever did) so I would give it a try You're renewing the current tenancy right? So it's not a new deal Ask them where in any T&C's it states that you will have to pay £120 for signing this extension Ask them how they come up with the figure of £120 and what it involves, what happens to that bit of paper in the "admin" sense to warrant the £120 price tag? Should at least get a reduction on the price if not removed completely Quote Link to comment Share on other sites More sharing options...
coldel Posted March 15, 2013 Author Share Posted March 15, 2013 I have mailed back asking for the construction of the fee, people time, internal and external costs. Will have a nose through the current contract when I have more time... Quote Link to comment Share on other sites More sharing options...
Paddy78 Posted March 15, 2013 Share Posted March 15, 2013 I've refused to pay or asked for it to be reduced over the years with mixed results. As far as I've been able to tell it's just a bs figure that they can charge. I'd definitely try to get out of paying it, but chances are you won't get away with it. Letting agents are one of the lowest forms of life and totally useless / unhelpful... unless they want money from you! Quote Link to comment Share on other sites More sharing options...
coldel Posted March 15, 2013 Author Share Posted March 15, 2013 Trawled through my contract and it is there in the contract that we pay that exact amount...my own stupid fault. They have sent me one sheet through to sign, Im not signing it until they remove that clause or at least reduce to an amount that is not tantamount to taking the P1$$. Quote Link to comment Share on other sites More sharing options...
stuarty Posted March 15, 2013 Share Posted March 15, 2013 Tell them to stick there form up there arse! When i read things like this it makes my blood boil. Don't take it the wrong way, but folk who stay in the south England or London really do get shafted with everything. When i talk to friends from down there and they tell me how much things cost i cant believe it. I know salaries are better but i know folk paying £700+ per month for rent alone! I could probably rent a castle up here in Scotland for the price of one of they wee shity flats folk exist in, in London. Sorry about the rant! Quote Link to comment Share on other sites More sharing options...
ioneabee Posted March 15, 2013 Share Posted March 15, 2013 Tell them to stick there form up there arse! When i read things like this it makes my blood boil. Don't take it the wrong way, but folk who stay in the south England or London really do get shafted with everything. When i talk to friends from down there and they tell me how much things cost i cant believe it. I know salaries are better but i know folk paying £700+ per month for rent alone! I could probably rent a castle up here in Scotland for the price of one of they wee shity flats folk exist in, in London. Sorry about the rant! you could rent out your car for habitable purposes - subject to which car it might be on any particular day or time of month 1 Quote Link to comment Share on other sites More sharing options...
twobears Posted March 15, 2013 Share Posted March 15, 2013 No idea why I opened this thread as I am clearly not one of the forum's 'smart people' but that does seem a bit steep as admin charges go Quote Link to comment Share on other sites More sharing options...
Stutopia Posted March 15, 2013 Share Posted March 15, 2013 Total p!sser, I spent a fortune in these fees over many years renting. £200 sometimes, maybe they do a job check and credit search if it's your first go. We did credit searches and job checks when I was in finance, took 20 minutes max and £2 in costs, the other £198 is pure profiteering for filthy middle man agents. Get your own back by insisting they come and fix every single tiny little thing you notice in the house. It's fees like that which encourage some tenants to treat a place like sh!t, cos they feel they've been ripped off and just know they're going to lose a chunk of their bond for "professional cleaning". Quote Link to comment Share on other sites More sharing options...
Ricey Posted March 15, 2013 Share Posted March 15, 2013 ...just renewing our rent agreement, estate agent sends us extra documentation to sign (one page, our name and addresses on, signature at the bottom) and a fee of £120 for admin. I would suspect this is standard procedure for a new tenant given all the checks and contract preparation but to just prepare a bit of A4 with nothing but two peoples name and address on, £120? Really? Sounds like easy money to me i.e. a common industry rip off. I would like to know how this 'admin' has cost the agency £120. A quick google didnt turn up any solid results... Ask them. Any reputable company should be able to justify their costs. I work in expatriate tax, we frequently get people asking what things on their invoice mean/cover, almost every time we will explain what was carried out and the client will be happy and pay the invoice. If they can't justify it, tell them that you won't pay it until they can. Just my 50p Expatriate - tax consultant dealing complex affairs of complex people in complex financial situations Letting agent - too ruthless to be a used car sales man I'm fairly sure the former would find it far easier to justify their fees! 1 Quote Link to comment Share on other sites More sharing options...
spursmaddave Posted March 15, 2013 Share Posted March 15, 2013 Tell them to stick there form up there arse! When i read things like this it makes my blood boil. Don't take it the wrong way, but folk who stay in the south England or London really do get shafted with everything. When i talk to friends from down there and they tell me how much things cost i cant believe it. I know salaries are better but i know folk paying £700+ per month for rent alone! I could probably rent a castle up here in Scotland for the price of one of they wee shity flats folk exist in, in London. Sorry about the rant! I pay over £700 for a 2 bed wee shity flat Luckily I earn about the same as the entire population of Dundee Quote Link to comment Share on other sites More sharing options...
stuarty Posted March 15, 2013 Share Posted March 15, 2013 By the sounds of things these letting agents are worse than SOME tradesmen!! If thats posible! Quote Link to comment Share on other sites More sharing options...
stuarty Posted March 15, 2013 Share Posted March 15, 2013 Tell them to stick there form up there arse! When i read things like this it makes my blood boil. Don't take it the wrong way, but folk who stay in the south England or London really do get shafted with everything. When i talk to friends from down there and they tell me how much things cost i cant believe it. I know salaries are better but i know folk paying £700+ per month for rent alone! I could probably rent a castle up here in Scotland for the price of one of they wee shity flats folk exist in, in London. Sorry about the rant! I pay over £700 for a 2 bed wee shity flat Luckily I earn about the same as the entire population of Dundee That's about £70 a week then! Quote Link to comment Share on other sites More sharing options...
spursmaddave Posted March 15, 2013 Share Posted March 15, 2013 Tell them to stick there form up there arse! When i read things like this it makes my blood boil. Don't take it the wrong way, but folk who stay in the south England or London really do get shafted with everything. When i talk to friends from down there and they tell me how much things cost i cant believe it. I know salaries are better but i know folk paying £700+ per month for rent alone! I could probably rent a castle up here in Scotland for the price of one of they wee shity flats folk exist in, in London. Sorry about the rant! I pay over £700 for a 2 bed wee shity flat Luckily I earn about the same as the entire population of Dundee That's about £70 a week then! Yeah but luckily I dont spend £50 of it on tabs, booze & scratchcards Quote Link to comment Share on other sites More sharing options...
stuarty Posted March 15, 2013 Share Posted March 15, 2013 Tell them to stick there form up there arse! When i read things like this it makes my blood boil. Don't take it the wrong way, but folk who stay in the south England or London really do get shafted with everything. When i talk to friends from down there and they tell me how much things cost i cant believe it. I know salaries are better but i know folk paying £700+ per month for rent alone! I could probably rent a castle up here in Scotland for the price of one of they wee shity flats folk exist in, in London. Sorry about the rant! I pay over £700 for a 2 bed wee shity flat Luckily I earn about the same as the entire population of Dundee That's about £70 a week then! Yeah but luckily I dont spend £50 of it on tabs, booze & scratchcards Not much else to do with your cash in Dundee then! Quote Link to comment Share on other sites More sharing options...
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