Letting Agencies… Who Likes To Moan?

The holy introduction for what I believe to be one of the biggest scams around, the letting agent. These guys come into the same category as bankers, loan sharks and second-hand car salesmen.

I want to moan about agency fees which go as follows:

  • Credit checks cost £50 per person
  • Administration fee costs on average £50 per person.
  • Tenancy agreement £100 payment
  • Inventory fee £75 payment
  • At least one month rent deposit
  • One month in advance

Excluding the necessary deposit and month’s rent in advance the total amount of money given to the letting agent (for two people) is £375. If you want to renew your contract you have to pay an additional £125 for ‘administrative costs’. If you want to leave be prepared to lose on average £75 for cleaning costs, no matter if you hired a cleaner who has been awarded for his/her cleaning skills working in Buckingham Palace.

Why moan? If we pay £50 for administrative duties, I can only assume their administrators get paid £50 per hour. Or they could have employed incompetent administrators who take at least five hours to allocate a space in their alphabetised filing cabinet.

The tenancy agreement tends to cost £100. This is because you pay £80 for several copies of the signed document to be produced on their photocopiers in Nigeria. (It can’t be that it takes time to collate information and file it because that cost was covered by the overpaid administrators already.)

Inventory fees cost £75. Well they found an additional source of income from what used to be included with the tenancy agreement.

What does the letting company pay their employees for? If we pay for the administration duties, the tenancy agreement, and for them to complete an inventory fee, what do they actually do?

ACTUAL JOB DESCRITION FOR LETTING AGENT:

 “The successful individual will be offered a competitive salary and benefit package, personal development, ongoing training and career progression. 

Are you the successful candidate we’re looking for? If so, you will be required to:

  • Register potential tenants. 
  • Arrange and attend viewings.
  • Liaise and negotiate between landlords and tenants.
  • Close deals.
  • Build and maintain excellent working relationships with landlords and tenants.
  • Canvass for new business opportunities.
  • Achieve pre-agreed targets.
  • Offer a first class level of customer service at all times. {REALLY???}

To be considered for this role, you will need to have a proven track record in a target driven sales environment and not be afraid to go the extra mile! {be confident at scamming} A lettings/property background would be an advantage. You will need to possess a full UK driving licence and be expected to work on your own initiative {do anything to squeeze that cash out, just don’t hold us responsible if you get caught} and as part of a team. “

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2 comments
  1. Fahrettin Berber said:

    Probably you like racing cars

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