Tis the season for student letting. It is often reported that student letting is the most profitable. Our sons and daughters are desperate to find a house for themselves and their friends in an area close to their university. When they find that property, they eagerly fill in the application forms, nod their heads complicitly at the agents who tell them that they'd like x £££'s for administration fee please and could they then pay two months rent in advance together with the deposit. Easy money, no questions asked by our sons/daughters, who aren't that focussed on the costs and presume this is all quite normal, which it is, and anyway bank of mum and dad will take care of it!! Now I'm not suggesting that no admin fees should be charged nor that a deposit is paid to secure the property. A group of students could back out of agreement or one drops out making it more expensive rent for the others. Its just that the word 'greed' comes to mind. Also, please agents tell us in black and white where the deposit monies are held and where relevant details of your client money insurance protection! Thank you!
