I am renting a Flat from an agency. After I have paid the application fee,about £100, the people in the agency told me that I only need pay deposite and first month rent. But now, only a few days before I am going to move in.I was asked to pay £100 Lease Preparation Fee and Insurance for the property . I think this is really ridiculous and unfair. Does anyone have any idea about this? Thanks

i had exactly the same issue..and when i asked i had a very vague reply tat it's something to do with sollicitor...i was under too much stress as i have to move out and i don't have much time to look around so i payed. But i will still be curious to find out what it is!
B

this is a new one on me, as i understand it this should be covered in your application fee. which agency was this, £200 is ridiculous! coughwecharge40cough ;)

Sounds like a rip off to me what sort of insurance do you get for less than £100.
The lease will be pretty standard, probably worth between £10 and £20. the rest looks like "Administration".

i have heard of some agencies forcing tenants to take out insurance through them which can be bought seperately far cheaper, and doesn't offer much cover. just a way for greedy agents to make money out of tenants in my opinion...

I am renting a Flat from an agency. After I have paid the application fee,about £100, the people in the agency told me that I only need pay deposite and first month rent. But now, only a few days before I am going to move in.I was asked to pay £100 Lease Preparation Fee and Insurance for the property . I think this is really ridiculous and unfair. Does anyone have any idea about this? Thanks

Whats the insurance for?

The insurance is £150 as advice by the agency to cover the loss and damage to the property and other content.

The insurance is £150 as advice by the agency to cover the loss and damage to the property and other content.

Surely the landlord should insure the building and you should just insure your belongings.

The insurance is £150 as advice by the agency to cover the loss and damage to the property and other content.

What is the deposit for then? And why would you insure the landlords contents?
Dont let em shaft you because that is what they're doing.

Rent direct through a landlord- there are many desparate to rent their properties who wont ask for 2 or 3 hundred quid for the 'privilege'.

They should have told you about all costs before taking any money off you. Otherwise you're over a barrell. Which agent is it?

Is there a bond as well or is this insurance instead of a bond. Could be the landlord wants £150 now rather than £400 he will have to give back.
Are the agents licensed to sell insurance. I'm sure someone on here can tell us what licence they need.

I have paid the application fee becasue I was told that only rent and deposit needed to pay before I move in. Now the agency said I must pay Lease Preparation Fee and Insurance as stated in the application form. But I was only given the application form about a week later I have paid the money.

I think I was just too naive to believe these people in the agency. I want to flight for my own right but don't know what to do.
I hope people should be much careful to do business with these agencies. Read the documents word by word before you decide anything.

Hi
Agencies make a lot on upfront fees and then charge the landlord a monthly percentage. Stick to your guns and say you were not advised of these fees. Either ask for your money back and start again or insist on no more fees. You can go to trading standards if the agency has mislead you but check any paperwork you were given first in case it mentions these extra fees. Agencies can charge for EVERYTHING including inventories and renewing a tenancy even if they haven't done any extra work. Good luck :)