Thursday, 20 December 2007

Real Estate Rip Off

Real estate here is legalised robbery. Rent is so expensive and you end up paying about seven months rent in advance when you move. That's three months for the deposit, three months' rent in advance and the 10% of your yearly rent total as agency fees. On top of this, when you leave you have to return the flat EXACTLY how you received it. NO WEAR OR TEAR ALLOWED.

Most of our friends have lost most if not all of their deposit even if they repainted, polished wooden floors, oiled shutters etc etc. The estate agents will charge you even if there is a light bulb missing! But it is a lost cause because no matter how you spruce the flat up time has taken its toll.

I know someone who invested €100,000 in their rented apartment. They renovated and added wooden floors throughout. When they left they got penalised because of the "damage" they'd done to the wooden floors and lost all their deposit despite all the works they'd done in improving the place!

We have a painter/handyman currently trying to sort out our flat in an attempt to get our deposit back. We will leave the apartment professionally painted and cleaned and I guarantee you we will still be penalised. We will be held responsible for the demise of furniture and cupboards despite NOTHING in that flat being less than twenty years old!

I would have liked to leave the place clean but untouched just to avoid arguing with the estate agents over the deposit but husband has other plans and is ready for battle.

2 comments:

Anonymous said...

I would love to learn if you got your deposit back and if you had to hire legal aid. Thanks.

Lady L said...

We got our deposit back and the estate agent actually admitted the flat was in a better state than when we moved in!