Letting Agents money up-front?

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    Letting Agents money up-front?

    Can anyone advise me as i am a little concerned! I recently viewed a nice property as i currently have to leave my existing rented home due to landlords returning home from a MOD posting.

    I offered the full asking price and was requested to pay one month rental up-front (£695) before they would even carry out credit checks, etc. Even though they did say that the money would be refunded if my checks were not satisfactory (minus the credit referencing costs).

    Is this acceptable? I think not but i have foolishly agreed due to the fact that i like this house and i dont want to end up homeless in the near future (now less than 2 months)

    Any advise would be much appreciated.

    As they have assured you that your advance rent will be refunded if they decide that you cannot be accepted as a tenant then this is fair. Are they charging you as well for the credit check itself? Most agencies do.

    Any information given in this post is based on my personal experience as a landlord, what I have learned from this and other boards and elsewhere. It is not to be relied on. Definitive advice is only available from a Solicitor or other appropriately qualified person.


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