No more fees good thing or had thing?

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    #31
    Letting Agency will be the biggest loser here, as the marketing forces will be against them.

    I as landlord using letting agency already pay what I personally think is reasonable amount for finding a tenant (£600-800 50-70% of monthly rent), I know the agency likely charge another 300 to tenant, but at some point, you have to wonder while all other shops on the high streets are closing down, letting agency is popping up all over the place, with multiple shops in the same road, does say well to their margins.

    If the letting agency charges more than that, I will more likely to take this up on myself and cutting them out of the picture.

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      #32
      Belvoir letting agents have just put their find a tenant only fee up from £300 to £550 since june 1st, pretty sure most landlords thought that we would end up paying extra when this came into force, how would us landlords vet the tenants ourselves is it that difficult to do?

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        #33
        Originally posted by TREK View Post
        Belvoir letting agents have just put their find a tenant only fee up from £300 to £550 since june 1st, pretty sure most landlords thought that we would end up paying extra when this came into force, how would us landlords vet the tenants ourselves is it that difficult to do?
        Vetting tenants isnt too difficult, just time consuming. I use the tenantverify application form, as the T to provide all docs with photocopies, and evidence that they have no ccjs (I suggest a full credit report as they can be obtained for free or around £8 if the T has used their free one). I'm not going to pay for a credit report on their behalf.

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          #34
          You can't require a tenant to obtain a credit report, that seems to be banned by the Act (although it's hard to be 100% sure).

          And, personally, I wouldn't trust someone else's version of a credit report (they're easy to "adjust")
          When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
          Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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            #35
            Originally posted by jpkeates View Post
            You can't require a tenant to obtain a credit report, that seems to be banned by the Act (although it's hard to be 100% sure).

            And, personally, I wouldn't trust someone else's version of a credit report (they're easy to "adjust")
            I know, but they are free to prove they dont have ccjs in any way they can. I dont know of another way.

            How do you adjust a credit report? do you mean something like scan it?

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              #36
              Originally posted by Berlingogirl View Post
              How do you adjust a credit report? do you mean something like scan it?
              Anything you can print, you can edit.
              When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
              Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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                #37
                i think you can get a free credit report from mse, i certainly can see mine for free and literally EVERYTHING I have ever done/place lived etc

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                  #38
                  The problem is that you can't require a tenant to enter into a contract with a 3rd party (except for the supply of utilities or "communication service[s]").

                  Every free credit report requires some kind of sign up.
                  Whether that's actually a contract is a matter to be determined, although I don't see what else it can be.
                  When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
                  Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

                  Comment


                    #39
                    Originally posted by jpkeates View Post
                    The problem is that you can't require a tenant to enter into a contract with a 3rd party (except for the supply of utilities or "communication service[s]").

                    Every free credit report requires some kind of sign up.
                    Whether that's actually a contract is a matter to be determined, although I don't see what else it can be.
                    I wouldn't necessarily ask a T to sign up to anything, but they'd need some way of showing their credit record. What that might be I have no idea, but wile they're pathering around finding some other way, somebody else will have taken the property.

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                      #40
                      I've mentioned it before, but I have a very reliable method of safeguarding rent payments:

                      Take 6 months rent up front, and make it clear you will issue section 21 notice at 4 month point.
                      To save them chiming in, JPKeates, Theartfullodger, Boletus, Mindthegap, Macromia, Holy Cow & Ted.E.Bear think the opposite of me on almost every subject.

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                        #41
                        Originally posted by JK0 View Post
                        I've mentioned it before, but I have a very reliable method of safeguarding rent payments:

                        Take 6 months rent up front, and make it clear you will issue section 21 notice at 4 month point.
                        I wouldn't be able to do that. People just don't have that kind of money where I live. Nice idea though

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                          #42
                          Originally posted by jpkeates View Post
                          The problem is that you can't require a tenant to enter into a contract with a 3rd party (except for the supply of utilities or "communication service[s]").
                          It depends on what "a third party" means.

                          It is arguable that it means "a specific party", not "any party that provides such a service".
                          So requiring the provision of such a report but not specifying where it must come from may not be prohibited.

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                            #43
                            MSE credit report is free and check all the big lenders


                            https://www.moneysavingexpert.com/creditclub

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