Cancelling Agreement With Letting Agents

[westwell]

I let my property through a letting agency 8 years ago and they have managed it ever since charging me ten percent per month for the service. I now want to manage the property myself and have advised them I wish to cancel their services.
I have had the same tenant throughout the last 8 years so they say I cannot cancel my agreement with them.
I have read through the agreement and it doesn't mention anywhere that I cannot dispense with there services.

Advice Please?

[MrShed]

What does it say in the agreement with regards to termination of the contract?

[westwell]

Originally Posted by MrShed

What does it say in the agreement with regards to termination of the contract?

It doesn't mention anything in the agreement about termination.

[MrShed]

If that is the case, you can cancel at any time without penalty, regardless of what they are telling you.

[Nightmare4banks]

westwell,in reply to your post and in my view:

1.I totally agree with Mr.Shed here as normally you would pay a finder's fee which is a one off fee when the tenant is first found by the agent and then
a management fee if the agent collects the rent and deals with the tenant.

2.Once you do not need the services of the agent - give 1 month notice that from the following month you will not need the agent's services.

3.However,to keep sweet with the agent, I would suggest that you inform the agent that as soon as you need an agent's services you will immediately contact this agent.Whether you do this or not is totally up to you and would depend on how good or bad that particular agent is.

Anyway,I hope you find this information useful.

If you have any questions,just ask.

Keep us posted.

All the best!