Reservation Fee or Charge For Referencing or Both?

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    Reservation Fee or Charge For Referencing or Both?

    Hi,

    I would like to understand landlords approach to letting a tenant. Woud you either;

    1. Charge a reservation fee and deduct from first months rent (no other fees)?
    2. Charge for referencing (no other fees)?
    3. Charge for referencing and charge a reservation fee if they can't move in straight away and deduct from first months rent(no ther fees)?

    What has worked for you?

    Thanks

    DC

    #2
    1. No
    2. No
    3. No

    Dr Google seemss to think you are 19 & in India... probably wrong eh??
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

    Comment


      #3
      By "reservation fee" it seems you mean "holding deposit" since it is to be credited to the tenant's account (and so is certainly not a fee).

      Originally posted by theartfullodger View Post
      Dr Google seemss to think you are 19 & in India... probably wrong eh??
      Can't landlords also be interested in "love"?

      Comment


        #4
        Yes holding deposit.

        Comment


          #5
          Evening

          1) No
          2) Yes
          3) No

          I charge for referencing for two reasons, it takes time to do it and a cost for the credit search and it also in my opinion 'binds' the tenant to the property mentally. I would fear if I didn't charge for referencing that people who aren't really serious would say they are interested but would be wasting my time.

          Hope this helps

          Comment


            #6
            Thanks Dan, I would agree sounds like a sensible approach.

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