Harringay, Haringey - So Good they Spelt it Twice!
Are Winkworth really a high end estate agency?
I would not expect a high end estate agent to be charging both tenants and landlords, a practice that Labour's Stella Creasy tried to ban recently. The government agreed in the end to force estate agents to be upfront about these letting fees. Winkworth are not. Does this make them no better than any of the other letting agents on Green Lanes?
Tags for Forum Posts: tenant fees, winkworth
Replies to This Discussion
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Permalink Reply by John McMullan on
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Phil, when you use a broker in the city to execute your trade and they charge both you and the other side of the trade, who are they really working for? One side is paying for "the business" and the other side is supposedly paying for the "cheapest possible price" but there is never any guarantee of this. In real estate it seems to be cowboy land and I thought these guys were the local "not cowboys" along with Castles.
If this "tenant fee" is £500 then that's an extra £40 per month on the rent. Why not just be upfront with it and tell the landlord that you'll be taking £2000 and they should charge £1540pcm?
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Foxton's did not recommend to a client to post their advertisement on HarringayOnline.
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You got a free tweet to HoL's thousands of followers to advertise your flat. What did HoL get?
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Permalink Reply by Hugh on
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HoL isn't asking for anything, john. Let the guy rent his flat in peace for goodness sake.
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Permalink Reply by Elan on
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Hi John. Our tenant fees are simple and transparent. If you follow the link you posted, you will see that it says "tenent fees apply" clearly under the rental price. Click on it and you can see the fees. This is in line with current legislation.
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Thanks.
Why do you charge this fee? If the reason is "because we can" or "because others do" then how does that fit with you cultivating a reputation as one of the "good guys" on Green lanes?
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Permalink Reply by Mavic Starfish on
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"tenent fees apply" that's why everyone keeps missing it, extra for lager
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I've found out what the fee is for and why you charge it, I think. It is possible for landlords to insure their income providing they meet the requirements of the insurance. Part of the requirement is that an extensive reference check is performed to ensure that the tenant can afford the rental income. The "tenant fees" appear to be to cover the cost of this reference check.
From Endsleigh Insurance's website:
To apply for Rent Guarantee insurance you must be able to agree with all of the following statements, and if you can’t comply with the following statements then we cannot provide rent guarantee insurance cover.
A new quote will be required for every additional property that you require Rent Guarantee insurance for.
Please note that cover is not available in Northern Ireland, the Isle of Man or the Channel Islands.
For all existing and future tenants and/or guarantors I can confirm the following:
A comprehensive reference with an accepted decision through a tenant referencing service provider can be provided for all tenants and/or guarantors.
Each tenant and/or guarantor is included in the completed tenancy agreements duly signed by all parties.
The tenancies are agreed on an assured short hold, short assured or an assured tenancy under the 1988 Housing Act or Housing (Scotland) Act.
Each tenant is only allowed into occupation once a month’s rent and a deposit payment has been collected.
A clear record of all rent due and payments received including the date of any payment received will be kept.
For the past decade banks have been forced to reimburse customer who were charged insurance premiums to cover their credit repayments without being asked. Other than the semantics, how is this different? Is it really fair to charge the tenant this fee out of the taxed income when a landlord could offset the cost against his rental income?
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Permalink Reply by Philip on
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If you wish to let a property I would recommend managing it yourself. If you can't do that or are away for a time, then agents can be a solution. They do, however, charge quite a lot. I let a modest property locally and advertise for tenants on Gumtree(tho HOL would also be a good place) This means I can charge a lower rent and tenants are happy to deal directly with the owner. Agencies charge quite a bit to find a tenant for you. When you see how cheap and easy it is, you will wonder why tenancy fees aren't banned(the law was supposed to do this) I ask for bank account number, employer or other checkable reference, copy of passport/drivers license etc. You can download a free tenancy agreement. Remember that when repairs are needed the agency will just pass the bill on to you. When you are the landlord you can pick reliable tradepeople that you are happy with. You will need a cert to give the insulation value of the property which is cheap and entirely useless. It is also a good idea to have an electrical inspection if you have any doubts. You should ensure you have smoke alarms and provide a fire extinguisher and fire blanket. I have not had any problems in many years letting. If you have any doubts about tenants, don't let to them; but tenants who feel looked after will treat the property with care.
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This is great. One point I would make though is that HoL is not a business, Gumtree is.
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