Cost of moving hits St Albans renters hard

PUBLISHED: 08:00 26 July 2016 | UPDATED: 08:16 26 July 2016

Moving to a new rental property doesn't come cheap

Moving to a new rental property doesn't come cheap

Archant

Sharers must stump up £1,175 each time they move, according to latest figures.

This rises to £2,043 in London, which closer reflects the amount those renting shared flats in St Albans must find.

The research released by SpareRoom.co.uk looked at the total cost of moving, including agency fees, moving costs and deposits.

A combination of long deposits, rising rents and high removal firm fees can be crippling for those who need to share a flat with others, just to secure a roof over their head.

More than half of Londoners (52 per cent) pay a deposit of £1,016 – six weeks’ rent.

And almost three quarters (73 per cent) of UK flatsharers can expect to pay letting agency fees – a figure, which goes up to 76 per cent for those in the capital.

Over a quarter (27 per cent) of those studied paid agents more than £300 last time they moved, with ‘admin’ costs cited as the most common fee.

The director of SpareRoom.co.uk – a website which exists to help people find accommodation through less ‘official’ channels – recommends dealing with landlords direct, as a cheaper alternative.

Matt Hutchinson said: “With renters having to find a new deposit before they get their old one back, many simply can’t afford to move. That can mean missing out on employment opportunities or having to put up with rent increases.

“One option to avoid longer deposits and high fees, or even to avoid fees altogether, is to deal direct with the landlord or rent a room from a homeowner looking for a lodger.”

The survey of UK flatsharers was conducted on SpareRoom.co.uk in June and July this year.

St Albans letting agent Gregory Moulton, Managing Director of Let Me Properties, says that while the costs of moving can be high for some tenants, this is mostly due to rent and deposit requirements, rather than agents’ fees.

He said: “We find that most professional tenants renting rooms in shared houses in St Albans prefer to deal with professional letting agents. Many professional tenants understand that there are costs associated with the service they receive, and are happy to pay the fees as long as they receive the service they expect.

“We often hear horror stories of landlords giving over unsafe accommodation, misappropriating tenant deposits, and all round delivering a poor service when handling the process alone.

“We find that many young professionals are now renting luxury rooms in shared houses, and these professionals expect a premium service and are happy to pay a fair price for it.”

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