Unreasonable charges

Unreasonable charges

13:50 PM, 4th February 2016, About 6 years ago 39

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My Estate Agents are saying they will be charging me £25 to tell the Tenants Deposit Scheme I am moving over to a Periodic tenancy. Unreasonable charges

I have self-managed and never had to do this!

Do they have to do this or do they only contact them again when they want the tenants deposit returned?

I hate unreasonable charges from the Estate Agents.

Thanks

Deborah



Comments

by Ray Davison

11:41 AM, 8th February 2016, About 6 years ago

The way I see it is that managing the tenancy and managing the property are different things. Anything that is tenancy related (Including handling the deposit, unless the LL has elected to look after this aspect himself) should be included within the normal monthly fee. Where it is to do with the property- Maintenance, Repairs, Surveys (Yes including Legionella, Fire risk assessment etc) would not and would therefore be the subject of additional charges.

I am not trying to tell anyone what any of these fees should be that is for each agent to decide and Landlords will uses those fees as one element of their decision making process when deciding which agent to use. I also agree that cheapest is rarely best. It's easy to be cheap and do a poor job!

by Chris Byways

9:11 AM, 9th February 2016, About 6 years ago

Reply to the comment left by "Luke P" at "08/02/2016 - 10:43":

Managing a person's home is a bit more complicated than buying a jacket, that the ordinary person is quite capable of.

So, a good agent could, and imv should list all of the commonly required essential tasks, so the less experienced landlord is left in no doubt what THEY are left to do, or to ask the agent to do, or to even find another that can offer to do those tasks.

The proof is the published reports showing how many LL (none here of course) are unaware of basics like rtr or legionella or CO checks. So overall would be good for business for an agent to be able to show they had OFFERRED all of those services or clear the client had rejected them.

by Luke P

10:16 AM, 9th February 2016, About 6 years ago

Reply to the comment left by "Chris Byways" at "09/02/2016 - 09:11":

Chris, you raise a number of questions. If you are not capable of managing your own investment, then you should not retain it -the agent should merely be for the convenience factor. No agent is obliged to make up for a landlord's ignorance.

You've also answered the problem you posed. If the agent DOESN'T list all of the commonly required essential tasks and the landlord is left to do, or to ask the agent to do...then do not make use of the services of that agent. Anybody is free to offer their goods/services for sale. Nobody is forced to use those services. Caveat emptor and all that.

What you really want is the right to invest, but know little about how to manage/look after your investment. Moan when someone doesn't automatically do everything/spoon-feed you all the information you might need. And to have all agents -maybe even all businesses per se- offering their services, but only if there are no 'hidden pitfalls' (as you would see them). Since when did companies have to take into account the lack of understanding of any potential customers?

When you order a cheese pizza, the menu does not say that there is ham on it, equally it does not say there is no ham on it. If you are unsure...ask. If you are still unsure...avoid. No-one has to hold your hand for goodness sake -you're meant to be an landlord; an investor!

Would you have any sympathy for me if I decided to invest in, say, a passenger plane then complain when the Civil Aviation Authority made me pay flight delay compensation or luggage reunite charges, purely because "I didn't know. Why didn't you tell me?"

These analogies could go on.

by Ray Davison

11:52 AM, 9th February 2016, About 6 years ago

Reply to the comment left by "Luke P" at "09/02/2016 - 10:16":

Luke,
That is exactly why a Landlord uses an Agent. That agent should have the experience and expertise - As you claim you have, and I do not doubt it - to ensure that the tenancy/property is well managed within whatever legal framework is out there. As you said earlier in this thread, and I agree with you, part of your fees are to pay for your expertise to ensure that things are handled correctly and to advise the Landlord when things need doing even if they are not covered by your standard fees. This may then of course become chargeable work for you or the LL may do it themselves.

If I bought a plane, I would either research what I needed to do to comply with regulations or more likely pay someone with the experience to do that for me. That is what a LL is doing when they employ you as their Agent.

by Luke P

11:56 AM, 9th February 2016, About 6 years ago

Reply to the comment left by "Ray Davison" at "09/02/2016 - 11:52":

It is not why all landlords use and agent at all. I have many experienced landlords who use my company for nothing more than convenience.

by Ray Davison

12:04 PM, 9th February 2016, About 6 years ago

I agree Luke. If you want too be pedantic, I should have said that is why many LL use an Agent.

by Luke P

12:06 PM, 9th February 2016, About 6 years ago

Any which way, if you were Deborah, you would have no case. You want the particular service in question from that particular agent, you pay their price.

There's little else to say.

by Chris Byways

19:42 PM, 9th February 2016, About 6 years ago

If I was to ever use an agent again, it would be because either they were local to the property or were charging considerably less than the 12% with vat, I was paying for not very much. So we parted amicably.

When first starting, I would have appreciated a comprehensive list of all the things that needed doing, which they included, which they left to me. When I was charged three times the amount for the gas test I was paying at other properties, I decided enough was enough.

It did appear they wanted to make it appear some black art.

What I am planning is now doing is going to an agent for inheritance management of residential and commercial properties when my executors are handed the task.

by bob young

13:13 PM, 15th February 2016, About 6 years ago

Perhaps I missed it, but I don't recall seeing any reference in these comments to the 2015 Consumer Rights Act. In the same way landlords have to be totally transparent about fees they charge tenants, letting agents must be transparent about fees to landlords. So any fees not made known are not enforceable. Bigger agents have their fees in full on their websites and they make interesting reading!


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