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How much to take a property off the market?

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391 views 2 replies latest reply: 08 August 2015
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Tenant

I recently saw a property I wanted for rent. I asked what I had to pay to reserve it and therefore ‘take it off the market’. I was presented with the statement: Pay the usual fees upfront AND a month’s rent in advance.

Is that legal? In the past I have only had to pay the fees upfront. What’s going on? Is this agent being greedy, acting unproper? I’d be glad to have some feedback. it’s a long time since I went house hunting, so this came as a surprise to me anyway. 

Incidently, I like the forum software.

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Tenant

 Just to add, you are displaying the letting agent concerned as one of your ‘vetted’ agents. They also show their fees including administration charge. There is also one agent tht is charging for agreement for over £200.

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Administrator

Hello

Normally, to take a property of the market you have to pay a holding deposit, which is approx 2 weeks rent but some agents do ask for more. What usually happens is this holding deposit is then applied to the first month’s rent when it becomes due so you pay less during that first month. Agent fees are very variable and, although you can complain to an agent’s professional body about them, there’s little to prevent them rising – as long as they are prominently displayed.

In terms of being one of our vetted agents, can you provide some more information so we can look into it?

Alex

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