What is a finders fee? - Page 2

That's because unscrupulous renters will use an agent to find and view a potential property but once they know where it is will attempt to bypass them and approach an owner directly. Ditto purchasers. 

By having you sign an agreement, and put down some money (call it what you will), agents both legally and financially protect themselves from you from doing that.

Not getting into the pros and cons of agents nor some of their practices but on a very basic level put yourself in their shoes and then ask yourself what you would do in the circumstances.

You've put time, effort, and resources, into marketing a property only for a prospective renter to try and cheat you out of a reward for that.

It's not totally unlike shoplifting!

Hello,

I can't understand how anyone can consider renting a property from just  a photograph,  without seeing it or even knowing where it is!

 You will find that no property agent will do anything for nothing, everyone will require a fee.

Elinspain

This is a really interesting and informative conversation, especially as I'm currently looking for a long term rental.

Will the agents force you to pay the finders fee before they will.sllow you to view a property on their books?

I was hoping to view several properties when I come out in October, using different agencies and I'm now feeling a sense of dread!! Wondering if I'll end up paying 2/3 agents?

I'm in a bit of shock! Can anyone guide me?

No the finders fee was only when you sign the contract.

Looking at it from both sides. I have no problem paying an agency fee, I just think it should be transparent and on their website before you contact them. Now I understand why there is never a location posted on any advertisements and probably the reluctance to show people around to view. In case they approach the owner directly.
But in this day and age we have to protect ourselves. We are handing over our bank details our passport/ identity details and a wad of cash on a photograph on a website.

Good luck finding somewhere else its a tricky one but seems steep. If your instinct tells you no then beware 

all the best 

Can you tell me if the estate agents charge finders fees when you are buying a property too? As my plan is to buy a small property in the long term.

I thought they did pay a fee for managing the property but maybe I am wrong.

Thank you for replying, it's very much appreciated. 

I'm relieved to read it's only on a signed contract. 

I rent a property out in the UK and the agents charge the landlord, not the tenant.

But I fully  agree and appreciate that the agents need to make money, but they also need to be transparent.

Maybe I should put something on this forum & hopefully someone on the forum has a suitable house & we can achieve a win win situation.

Tricia

They can ask but I think it is totally wrong as they are working for the landlord who they are no doubt charging too. It's the equivalent of adding 50 euros per month on the rent. I have walked away as soon as "finders fee" is mentioned and notice that month's later the property is still being advertised.

Do a search on idealista and hopefully you will find something suitable.