Letting Agent Applicant Fee

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    Letting Agent Applicant Fee

    I hope i'm posting this in the right section, but I have a few questions about applicant fees.

    I currently live at home with my parents and I'm going to view a flat soon and I already know I want it but the letting agent has told me there will be a £260 application fee for 2 of us. From what I understand it is for them do do credit checks and other paperwork? My biggest worry is paying out that money and get turned down.

    I have just gone full time at work but my employer isn't changing my contract until the beginning of June so i'm worried they will think I won't be earning enough to pay the rent even though I will be. Will they contact my employer who will be able to tell them the situation or will they just want to see my paychecks that only show that i work part time right now? Also, I've gone slightly into my planned overdraft towards the end of the month in the past, will this go against me?

    Another thing is my partner is at University right now and has been in his overdraft for a couple of years.

    Are these all things that could make them turn us down? I emailed the letting agent asking and the response was:

    "The only reasons you wouldn’t get this back is if you have bad credit like a CCJ, IVA or bankruptcy or your previous landlord gives you a bad reference or your employer says you are not permanent/ not earning the required salary for our requirements."

    Sorry about the long post, just want some advice before I hand over the money

    #2
    Applying for a rental is all about convincing the landlord. The estate agent is an intermediary. Just explain your situation and they will make a decision. You may lose money, but that is a normal part of the process. It doesn't seem fair, and in my mind it isn't, but it is the way it works.

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      #3
      Thank you. I wasn't sure if i'd get a chance to explain the situation or if they would just take the money and go off to do their checks without talking to me.

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        #4
        Is the rent greater than 30% of your salary? If so, ask them.

        Then ask about whether the landlord accepts guarantors and ask yourself whether you have someone who would be a guarantor.
        I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.

        That also means I cannot share in any profits from any decisions made!

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          #5
          Originally posted by 8086 View Post
          Applying for a rental is all about convincing the landlord. The estate agent is an intermediary. Just explain your situation and they will make a decision. You may lose money, but that is a normal part of the process. It doesn't seem fair, and in my mind it isn't, but it is the way it works.
          It needs to be changed.

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            #6
            It's not the way it always works: Many decent agents will refund referencing/credit check fees if the landlord decides not to proceed based on the results.

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              #7
              Originally posted by 8086 View Post
              Applying for a rental is all about convincing the landlord. The estate agent is an intermediary. Just explain your situation and they will make a decision. You may lose money, but that is a normal part of the process. It doesn't seem fair, and in my mind it isn't, but it is the way it works.
              Except for those agents who make decisions for their LLs to the LL's frustration. Sometimes LLs are refused sight of the credit checks and references on the dubious grounds of "data protection". However, in those cases this generally works in the T's favour, as the agent will want a quick close on the deal rather than trying to source sound tenants for the LL (i.e. he will act in his own best interests and not those of the LL).

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                #8
                Originally posted by dominic View Post
                Except for those agents who make decisions for their LLs to the LL's frustration. Sometimes LLs are refused sight of the credit checks and references on the dubious grounds of "data protection". However, in those cases this generally works in the T's favour, as the agent will want a quick close on the deal rather than trying to source sound tenants for the LL (i.e. he will act in his own best interests and not those of the LL).
                If I was a landlord and an agent tried that they would be dismissed fairly quickly.

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                  #9
                  Originally posted by dominic View Post
                  Except for those agents who make decisions for their LLs to the LL's frustration. Sometimes LLs are refused sight of the credit checks and references on the dubious grounds of "data protection".
                  This is unsustainable and an agent cannot hid behind the DPA; they are also required to seek the landlord's approval by providing as much evidence as possible as to a tenant's suitability. I would walk away from such an agent.
                  The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

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