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3 months ago

Can we talk about the ludicrous cost of Letting Agent fees? : Can we just take a moment to be absolutely gobsmacked at the ludicrous cost of Letting Agent fees? I've lived in Australia, Italy and Japan, both privately rented and through an agent, as well as in a student house while at university. I'm now looking to move into a place in the UK and I'm bewildered and quite frankly appalled at the absolutely insane costs of the process of renting somewhere to live. Check this out: Tenancy Fees - All figures inclusive of VAT where applicable. Reservation fee - £500 per property which is then deducted from the balance of money Security deposit - Equal to one and a half months rent £1125 - admittedly not an agency fee, just a standard security deposit Standard fee - £499 per property which includes one tenant reference. Each person added to the tenancy will result in an additional £199 £700 Check in fee - These are based on the size of the property and whether it is furnished or unfurnished, these range from £115-£234. These costs are applicable for all properties. You will be made aware upfront if this is any different. Please note that if you require to move in on a Saturday there will be an additional cost of £60 say £200 The following may also apply dependent upon your own individual circumstances: Guarantor fee - £199 we will need a guarantor each, so £400 And that's just the stuff that's relevant. God forbid you require amendments to the Rental Agreement. So before we've even paid any rent or been given keys, we're looking at having to spend £2500!! Honestly I feel so demoralised about life in the UK sometimes. I could afford to rent a really nice 1 bed 1 bath bills included in Australia on 3 nights work a week at a local restaurant. Just felt like having a rant really. Full Article

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