Landlords do, my point is they shouldn’t push this particular one on because it’s flat out greed as the sums are so tiny compared to long term amount that a good tenant brings in.
It’s about making it viable. Some are perhaps greedy, others need these amounts to make it work. You cannot just tar all with same brush.
Some landlords margins are very small because circumstances outside of their control.
So using an agent to reference several tenants a year is a costly game.
I’m not actually on about me. I am cautious and self manage. Not all do this clearly.
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Vijay. You stated the referencing was free . It is not free . Now you are trying to justify your statement. Give it a rest. .I could say my tenant of 22 years has only cost me xx in £ s .It is still a cost not free.
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Margins might be small in cash (mine certainly are, by choice), I doubt they’re small in equity though if it’s too expensive for them, cash in and liquidate the profit).
And if they’re using an agent to reference several times a year on the same property, then they’re probably all together in the wrong business.
So, going back to your original point, it’s not free is it?
It results in rent increase.
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I stated “litterally free” in my initial post, an error I meant “virtually free” hyperbole is allowed on this forum, is it not?
A rent increase of 0.006% if the landlord is passing the actual cost on. I highly suspect that many have increased rents by more than that. Frankly, I can’t wait for the renter’s reform bill to chase these clowns out the market.
Labelling all landlords who pass on referencing costs as wanting to screw the tenant is unreasonable.
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So if you pass on any costs your are screwing the tenant!
Argument makes no sense.
Every cost is a small percentage of revenue. Collectively they arnt!
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No, passing on more than a fair cost is screwing your tenant. We did the maths here, it’d be fair to raise rents by 0.006% to cover referencing for a single person based on 700pm over an average of three years tennancy at the high end.
In reality it’s probably lower than that as the numbers you gave were high in my experience.
Why not?
I raise my rents accordingly based on market value. My tenants still stay as I provide quality properties and deal with issues quickly and without fuss. It’s a business and I run it as such. Tenants get a good service in return for a fair, not “greedy” rent. It’s still below real market value. I will always factor in a tenants financial position and reward a good tenant.
Any landlord can keep tenants long term by keeping rents a lot below market value. Tenants will put up with a lot for cheap rent.
It’s low rents that can force landlords to have to boot out good tenants when either a) The penny drops its way below market value and they are unable to force such an increase on the current tenant or b) something outside of LLs control comes into the mix like the current mortgage rate hikes, again the Ll cannot pass on such a price hike.
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Clearly passing on unfair costs would be an issue and goes without saying.
Assuming you have mortgage(s) did you pass on the removal of mortgage tax relief costs onto your tenants, or will you the next tenants? Did you pass on the cost of the new carpets or decoration? Or insurance? Or the boiler swap?
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The maths is wrong. It looks like you are going to get unstuck anytime soon.
The actual number is 0.66%.
If you can’t do basic math you should sell up now 
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Unfortunately you jumbled up your figures as Mark10 already stated. In your case calculator might be considered an allowable expense for tax return I think 
. Joke aside, I don’t like the fact that you are trying to run our business for us in a forceful manner. We all have different way of doing things. I am sure there are people here giving out to charities multiples of referencing fees that you mention.
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As you paid a holding deposit on the property wouldn’t have thought it would be correct that she changes the rent amount after you have paid as this is not what you were agreeing to.
Can you take any advice from CAB or Shelter?
I know time has moved on since you posted. Any developments on what happened?
Ignoring the many off question comments - you’ve paid a deposit based on the rent she advertised. Then she’s tried to charge you for something illegally, then just increased the advertised rent.
As a few people have said, not a great landlord. If it’s like this now, imagine trying to get the boiler or cooker repaired once you’re living there.
If you can get out now, try to find somewhere with an honest landlord
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Vijay, I think you better look at how to run a business. Firstly nothing is free is life as a landlord. It is a business. As Cath says (it’s her business if I remember correctly) with her calculations for you.
Best thing you can do is get a good accountant, as based on your sums, things don’t add up!!
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Basic fundamental, There is no thing as a free lunch
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