Finding a place to live in a new city is often an overwhelming task. The moment you think you have found a place you like, you call them only to be told someone has already taken the room and you’re back at square one all over again. But hopefully after toiling through ads and calling up estate agents days on end, your perseverance pays dividends and you finally find a flat or room to rent that is just about doable money-wise.
But it shortly dawns on you that although you can just about deal with the astronomical monthly rent, you will also need to fork up the deposit and worst of all, the agency fee! Now you’re looking at 3 months rent or even more just to secure this property and the numbers in your savings account aren’t matching up with this dreadfully high figure.
Help is on its way from the British government but not until spring 2019, when a new law will come into place to end landlord and estate agency fees as well as putting a maximum deposit amount at up to 1 ½ months’ rent. But if you can’t wait until 2019, then don’t fret because there are already alternatives that cut out the middleman and connect the landlord directly with the lodger.
In Spain, there are no laws when it comes to paying agencies fees for renting out a flat. Most of the time, people need to pay the first month’s rent, 1-month deposit and another month only for the agency. In France, the agency fees depend on the size and the location of the flat.
According to a survey by homelet, only 29% of people renting in the UK rent directly through a Landlord while 71% are rent through agencies. The same survey stated that those who rented directly with the landlord were 90% satisfied as opposed to 78% for those who had rented through an agency.