What is a finders fee? - Page 3

Digger279 wrote on Wed Sep 16, 2020 10:10pm:

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 ad...

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...vertised.

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

Mai wrote on Mon Sep 14, 2020 10:23am:

It seems I have upset the estate agent by questioning her finders fee and will not be renting the property after all. As her reply is she does not trust me.

Mai wrote on Wed Sep 16, 2020 7:18pm:

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.

Ita wrote on Thu Sep 17, 2020 10:12am:

It is ILLEGAL for a tenant to he asked to pay any agents fees on a rental flair in Spain. The landlord is responsible for any agents fees. 

See link for confirmation of this, plus other useful info you should know when renting in Spain.

Tricia29 wrote on Mon Sep 14, 2020 4:00pm:

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?

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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?

tebo53 wrote on Thu Sep 17, 2020 10:17am:

I've never heard of the agency fees to be illegal. Can you provide a link for that please.

Steve 

Kevman wrote on Thu Sep 17, 2020 10:16am:

The area is the rule of thumb! Agents in Valencia charge the purchaser the fee but in Alicante the seller pays the agent fee, same as the uk! Which makes sense as the vendor chooses the agent and agrees the fee, the purchaser has no control over those fees.

Movingon wrote on Mon Sep 14, 2020 1:00pm:

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....

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...

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!

Mai wrote on Mon Sep 14, 2020 12:16am:

Hi 

I have found a lovely rental property in Santiago de la Ribera. The agent asks for:

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A months PCM: 600 euros + bills.

1 month holding deposit.Finding agency fees: 600 euros.
I did not instruct the estate agent to find me a property. So why do I need to pay the agent a fee? I answered a advertisement on the estate agents site. Should I pay?