Is it best to go through an estate agent when renting in London?

Question

I am looking to rent in London and don't know whether it will be more costly to go through a private landlord or an estate agent.

Answer 1

I think it is better not to use an estate agent. I can't think of anything they actually do for a tennant except cream a lot of money off them.

Answer 2

Estate agents are expensive with their fees but you are a little more protected with an agency with the contracts and deposit. However don't ever be under the impression they are working for you, as their concern will always be the landlord as that is how thay get their commision and make most of their money. They will pull out all the stops to help you find a place though which can be handy as houses go so quickly. I'd say if you are going to use an estate agent then make sure you read everything really carefully and be clear on what the clauses mean etc. If you choose to go through a private landlord, loot is good as is gumtree and look in the windows of newsagents etc and library notice board as these are often lower priced. Whatever you do, Good luck.

Answer 3

You will not pay the estate agent anything as the landlord will pay the estate agents management fee. That being said you may be able to find somewhere cheaper privately as the landlord may split the difference with you.

The most important thing is your deposit, you will be expected to put down 6 weeks rent deposit. With a reputable estate agent this money will go into an escrow account (no-one can touch the money) until your lease ends. If you rent privately you ought to check where your money will be held as an unscrupulous person may just spend it & you might have a lot of trouble getting it back.

If you are considering renting from a friend you trust then less of a problem, they should still draw up a proper lease though (just incase anything happened to either of you) & have the necessary gas/electrical safety checks (gas is a legal requirement, electrical either is or will be very soon)

Answer 4

It'll be more costly to go through an estate agent - but then you do have slightly more peace of mind that they are set up for renting out properties and repairs/problems are likely to be dealt with more promptly (with a large established chain I mean - the smaller independent estate agents such as Alcomax in south London will be equally slow and annoying as a private landlord and they will charge large sums of money for administrative costs). Best of luck.

Answer 5

Use a Letting Agent, not an Estate Agent. Some Estate Agents also do letting on the side, but often they don't know what they're doing. Go to a specialist, and make sure they are a member of ARLA (Association of Registered Letting Agents)

They will ensure your landlord does the necessary safety checks, they will draw up an Assured Shorthold Tenancy Agreement for you and the Landlord to sign, and - from (I think) April 07 will hold your deposit, because from then on Landlords are no longer permitted to hold deposits.

Remember, however, that they are employed and paid by the Landlord, so ultimately that is where their loyalty lies. They are not allowed to charge you anything, despite what AKMG says, and any Letting Agent who asks money from tenants is breaking the law.

A good Letting Agent in Crouch End, London N8 is Traynor and Co

http://www.traynor.co.uk/

Alternatively, buy a copy of Loot and start ringing round

Good Luck

Answer 6

I've had some good experiences renting privately, less money to pay out upfront and at the end for inventory checks, reference searches and cleaning - agencies try and squeeze every last penny out of you.
Private landlords can also a bit more flexible about moving in and out dates.
Loot is a good place to search, although they do go quickly, I would advise using the Loot website and pay the subscription fee (which is about £5/£10) which gives you access to ads before they go the paper.

Good luck

Answer 7

Anyone that says Estate Agents prevent you from being done over by your landlord is naive.
Take a risk with a private landlord - its much cheaper, you won't get mucked around in the first stages with extra deposits and admin costs, and your contract will still cover you legally.

Estate agents are scum-sucking, yellow-bellied, pig-eyed sacks of filth.

Answer 8

Stay away from estate agents. Never pay any fees. They will rip you of as much as they can as there job is to get as much out of you as possible. Look in local papers local websites, eg chiswickw4.com an independent landlord will be able to charge less and be moe responsive. Where do you want to rent and i may be able to help further

Answer 9

There is no correct answer to this but you have a greater chance of it being a safe property as the estate agent will require the land lord to have relevant safety check certificates e.g. gas central heating etc

Although do not be misguided these mean they are safe appliances and often will bear no responsibility t the competence of the contents of the property.

Answer 10

Try www.gumtree.co.uk for lettings available, especially if you're looking to share a property.

Even if you are renting from a friend or unoffical company/individual; make sure you get a contract written up that you both sign 2 copies of so you have a copy each.

Usually agencies/offical companies will take a commission of a months rent as a fee for finding a property for you.

Good luck!