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About AKC1980

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  1. I certainly hope so... Will keep everything updated on here. Everyone on here has been super friendly/helpful so just wanted to say a big thanks to you all
  2. Thanks for your input - have just mailed Debenhams Ottoway who posted on one of the foxtons blogs, and said they had experience in recovering renewal fees. To be honest I'm not fussed about recovering the previous years renewal fees, I just want to get of my LA.
  3. As far as I can tell, nothing to mention length of contract at all... It just rolls. I'm quite annoyed that I didn't negotiate this to start with, but I'm guessing that they would have bumped up my initial fees if I were to do so anyway. Really considering seeking legal advice, but not quite sure who to approach.
  4. Hmmmm, thinking about it... Actually I negotiated the fee/renewal down when we were doing it. Don't think that'll bode well then :/ Do you think I should seek some legal advice? And can anyone here recommend a good lawyer with this kind of experience?
  5. Also Steve from that updated link you've sent, interestingly it says that foxtons will limit renewals to two. I wish that was the case with my LA, then I'd gladly pay them off now and have done with them. I even asked if I could pay my way out of the contract, but they're just not playing ball at all.
  6. Thank you - will check that link now. Yep, I guess it was made clear in the contract (as per the extracts I've written from my contract) but not verbally or any other way - and it was a reduction on the first year (8%), it's just that in my naivety I guess I didn't take notice of it.
  7. Thanks again, That link doesn't work for me for some reason (but I can see the preview, so maybe my access is restricted), it just takes me back to the forum home page... Was it a link to the actual legislation?
  8. Thanks again guys... - Firstly, the schedule 1 fees, are just fees on renewal, I guess the most relevant part is "In the event that the tenancy continues for a greater period than the original term, whether or not this is arranged by the LA, a fee rate of 6% for let only of the gross rental income for the period of the renewal will apply whether as a fixed term or periodic tenancy and regardless of whether the LA is instructed to act on your behalf. The fee is payable if one or more the tenants found by the LA continues to occupy the property". So my worry is it even says it covers periodic tenancy. - To clarify, it's let only, there is no management etc - Also, I asked them y'day if I could change it to an STP as I'd want the flexibility, and the fees should not apply. This was their reply: "As per your terms the fees are due for the whole time the tenants are in the property. This includes if tenancy goes periodic. If the property goes on a one month rolling basis and the tenants move out after say 2 month we will refund you 10 months" Any thoughts? I want to tell them to wedge it, but I don't want them to take me to court to be honest, but do you think it would come to that? Should I reply saying that the chargers are completely unjust and quote the case? I've had a read through the foxtons case just now, but not entirely sure if it's applicable due to the wording of my agreement? I do however think it's completely unfair for them to charge so much for doing absolutely nothing. Thanks again for the advice, you've all been extremely helpful and I do thoroughly appreciate it.
  9. Thanks for the info... I've mailed them earlier saying that I'd like the tenants to stay on under an SPT, so interested to see what they reply with in regards to fees. I'm a little worried because of how the contract is worded but let's see.
  10. Thanks for your reply That's definitely my intention, I want to remove the LA from the equation completely as I have formed a good relationship with the tenants. However, I'm just wondering if their fees are enforceable by law if I keep the existing tenants? That's my main concern.
  11. Hi everyone, first off thanks for taking the time to read this. I have done some searches on this topic on this forum and other places, but I'm not sure where I stand in regards to the wording on my contract. I'm a LL from London, and getting increasing frustrated with the LA and their renewal fees. Fair enough, I'm a bit silly not have negotiated the contract in the first place, but my tenants are staying on for their third year now, and the renewal fees are nearly £1000, which is ridiculous for the amount of work they are doing (getting a piece of paper signed). So, I'm thinking of letting the contract roll into an STP, I was under the impression that no fees should be charged in this scenario, but in my contract with the LA, the following is worded: "The landlord should be aware that renewal or continuation as a periodic Tenancy is subject to an additional fee plus VAT as shown in Schedule 1 above whether or not we as your Agent negotiate on your behalf. If you prefer to negotiate any renewal personally our fees for the Letting Service will continue to be payable according to Schedule 1 above for the duration of the time the Tenants occupies the premises" Do I have a leg to stand on? Should I seek legal advice? Surely they can't charge me for not actually doing *anything*?!? Once again, thanks for reading this for me, any help is most appreciated.
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