Private landlord or letting agents

[calamitysil]

Hello to everyone. I'm new to posting here but have been lurking on this website for ages

Have learnt a lot from everyone's experience and advice. As I'm about to lose our house after illness forced us to live on credit which we are unable to pay back, we're now on a DMP. I've never rented before and wonder what the advantages and disadvantages are of letting agencies versus landlords direct. I keep reading about tenants losing their deposits with private landlords, which puts me off. Do I have better security with letting agents? I anticipate I'll have to pay a much higher deposit anyway as my credit history is damaged now, and I have a dog and cat to rehouse. Obviously I'd be terrified of losing such a high deposit unless of course I am to blame like in damage to property etc, but from what I've heard and read, tenants have to fight like hell to get their deposits back . Would welcome all feedback!

[MrShed]

Hi and welcome to the forum.

My thoughts, which I shall do as advantages and disadvantages of letting agents:

DISADVANTAGES:

- Costs more via fees etc.
- You can pretty much guarantee to lose at least a small portion of your deposit.
- Probable slightly above market rent.

ADVANTAGES:

- Possible route for complaints - should you use an ARLA or NAEA agent(which I would strongly recommend).
- You will probably not lose all of your deposit, or at least you are maybe not as likely to as to a private landlord.
- In theory, the agent should know his rights and obligations better.

Agents can be just as bad if not worse than private landlords - especially in the case where they become arrogant and ignore the law. There is zero point in using an agent unless they are ARLA or NAEA registered.

[MrShed]

I would also advise reading this thread:

http://www.consumeractiongroup.co.uk...t-renting.html

[demon_x_slash]

AFAIK, all deposits now legally have to be held by one of the three dispute resolution services.

Letting Agents tend to whack on the fees a bit heavily - reference fees, tenancy renewal fees, breathing-inside-the-property fees...

[Ed999]

IMHO, you might be better off renting from a landlord direct. An agent doesn't own the property, so has no real interest in it.

Dealing with an agent usually means delay and frustration, high fees, and having no address for the landlord.

As to the Tenancy Deposit Scheme, read this thread: http://www.consumeractiongroup.co.uk...ml#post1184266

[calamitysil]

Thanks for all your helpful replies
I'm certainly starting to think differently now and am more open to the idea of renting from landlords. I just fear being taken advantage of I suppose, as how do you know you're dealing with a landlord who is fair and a decent individual. Guess it goes both ways too, having seen on TV docu's the destruction some tenants (low life) leave when they vacate the premises must be hearbreaking for the landlords!

Thanks Shed, for that link. I've printed it off and when the time comes, I'll be well prepared!