Estate agents and rental agreements?

[SeanHitz]

Hello all,

I've been renting my property out for the past year under a management agreement with an estate agent. It's coming up for renewal as the year is up, but clearly, I don't want to pay the fees again because 1) they've done nothing over the past year to justify it, and 2) I don't need to find someone else to live there as the current resident is perfectly happy. So, how do I go about this? Do I just tell them that I am renting it privately from now on? Do I have to give them any notice to this effect?

Can someone give me some advice please?

Cheers

Sean

[womanofdulwich]

it should say something in your current agreement about this.

[SeanHitz]

My worry is that because it was written by the estate agents that it'll say they have to stay on, and I have to keep paying, but this might not 'actually' be true....if you know what I'm saying?

[ClareC]

It will be covered in the agreement. If you read the agreement it should state the procedure and any continued liability for fees (if any)

[red devil]

As a novice 'accidental landlord', I once had a similar scenario whereby the estate agent had written* into the contract that they would get a repeat fee for every year the original tenants renewed their tenancy agreement. To get round this I simply told the estate agent that the tenants were not going to renew the agreement, and privately drew up a new agreement, cutting out the state agent. Now if I have to use an estate agent I insist on only paying them a 'finder's fee'. Foxton's got into trouble doing something similar, something along the lines of writing into the agreement that if the property was ever sold to the tenants, they would get a cut of the sale price.

*When I say written, the estate agent had infact sneakily given a website link to explain this particular T&C.

It could be argued that not everyone has access to the internet, so therefore it was an unfair contract.

[DJKillaQueen]

I echo the above in saying read the contract you have with them. The answer to your questions will be in there. There will be a way around most things anyway. Quite normal for a letting agent to expect to continue to collect fees within a reasonable time frame of placing a tenant (stops landlords using them to find a tenant and terminating their services). But having said that, my advice would be never to sign a contract that demands that beyond a resonable time. I think one year is reasonable. More than that, no.

[Tamer]

You are probably tied in as we were a few years ago. We threatened to leave and go elsewhere (the inference being a different tenant)and negotiated a more favourable rate with same management company and tenant. This was the best we could do.

[SeanHitz]

Brilliant, thanks for all the advice. Will have a read tonight....if I can find it!