Non refundable house 'application'.

Not sure if this is the right thread / category.

Do you think this is right, a private housing app which is non-refundable?

---------- Post added 18-12-2014 at 14:59 ----------

£200 is a not insignificant amount of money.

times this by the amount of people wanting the house and it becomes a nice little earner for someone

It is not right but it is fairly common with letting agencies. You should be able to refuse to pay it at this time of year because not many people are looking to move house.

It is not right but it is fairly common with letting agencies. You should be able to refuse to pay it at this time of year because not many people are looking to move house.

The things is they are being shady about whether the fee is returnable or not. But there have asked for the fee in cash, so I cant use visa chargeback.

I've no idea which criteria they are basing the app on either.

If they have to run a credit check then that has a cost to them...

I never charged my prospective tenants for the CC, but I think if I were to re-let now, I'd draw up a brief contract stating that they get the money back only if they pass the credit check, unless they've told me about whatever the issue is in advance.

http://www.thisismoney.co.uk/money/mortgageshome/article-2471447/Letting-agent-hits-tenants-600-rent-FLAT-admin-fees-revealed.html

An article about it here.

---------- Post added 18-12-2014 at 15:26 ----------

If they have to run a credit check then that has a cost to them...

 

I never charged my prospective tenants for the CC, but I think if I were to re-let now, I'd draw up a brief contract stating that they get the money back only if they pass the credit check, unless they've told me about whatever the issue is in advance.

Its way above 'cost'.

Why should the tennant foot a bill then to be told 'sorry you are not successful we are now keeping the fee'.

The lack of transparency with agents is appaling. Like the article above says whats stopping them charging the landlord too.

---------- Post added 18-12-2014 at 15:36 ----------

I think the answer is look at all credit reports first.

Its a bit of a joke, the stringent tests / documentation you have to go through, when I have absolutely no idea of the landlords financial situation, competency, intentions.

times this by the amount of people wanting the house and it becomes a nice little earner for someone

They should only be processing one application at a time... whether all do this though is anyone's guess.

jb

http://www.thisismoney.co.uk/money/mortgageshome/article-2471447/Letting-agent-hits-tenants-600-rent-FLAT-admin-fees-revealed.html

 

An article about it here.

 

---------- Post added 18-12-2014 at 15:26 ----------

 

 

Its way above 'cost'.

 

Why should the tennant foot a bill then to be told 'sorry you are not successful we are now keeping the fee'.

 

The lack of transparency with agents is appaling. Like the article above says whats stopping them charging the landlord too.

 

---------- Post added 18-12-2014 at 15:36 ----------

 

I think the answer is look at all credit reports first.

 

Its a bit of a joke, the stringent tests / documentation you have to go through, when I have absolutely no idea of the landlords financial situation, competency, intentions.

It is way above cost. Some charge is reasonable, that isn't.

I never used an agent, the amount they want to take from the landlord for what they do is also unreasonable IMO.

It is way above cost. Some charge is reasonable, that isn't.

 

I never used an agent, the amount they want to take from the landlord for what they do is also unreasonable IMO.

How much do they charge in management fees roughly?

They should only be processing one application at a time... whether all do this though is anyone's guess.

 

jb

They should only be processing one application at a time... whether all do this though is anyone's guess.

 

jb

Money usually talks with agents.

How much do they charge in management fees roughly?

Depends on the agent, the larger ones will be a number of months rent.

Often the service provided is very below par, they also like to add on a management fee if they have to actually do something like organise a repair job.

---------- Post added 18-12-2014 at 17:31 ----------

Do you think this is right, a private housing app which is non-refundable?

If people are willing to pay it then thats that unfortunately.

You'll find the smaller independent agents are much better, they don't charge you the earth and actually are there to help you out when you need it.

I wouldn't even consider a place let by one of the larger firms anymore, it's just not worth the bother.

There's plenty of choice out there.