begrudging having to pay the estate agent 11% of the annual rental upfront!

[dizzydo]

They took the whole of the advance monthly rental payment and will take most of next months payment for their fees before I even get a look in. Why cant they charge 11% of the monthly income for a year.

It's crazy isn't. Where is their incentive to work for you if they've already been paid?

Sometimes it is possible to negotiate these fees - we managed to get an agent to agree to only half of their yearly up front, but the rest over the year.

Still not good!

Depends what you are getting for the 11%. If its full management then its probably a reasonable fee.

They shouldn't take the whole advanced monthly rental payment. A good agent will take the risk of the tennants not paying with you. We pay our agency monthly. If the tenants don't pay then the agency don't get paid.

We had this with Bastards Foxtons and our London flat. 17% for the whole year up front before we got a penny in rent.

You should pick an ALARA regsitered agent. They take the risk with you. Otherwise they agent lose nothing if they let in a really cr@p tennant.

No Reallytired that was just for finding the tenants, nothing else.Yes Piggy, same agents as you. Good point about ALARA funnily enough Foxtons dont belong.