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A. Rudd

Letting Agent Continuous Fees.

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I have been letting a property, to the same tenants for the past 4 years.

My letting agency charged me 10% of the annual rent plus VAT, for the first year, and they have been charging me 8% for each of the following years.

This is not a management fee, it is purely for introducing the tenants. The tenants now wish to stay for another year and it is looking like they will be there for many more to come. I feel like I am paying money to my agent for doing nothing, which I am. The only thing they do each year is renew contracts with myself and my tenants. Is this legal? Can I get out of it in any way? I signed the contract in 2005, which does state 8% for subsequent renewals, but have since been advised that my agent’s methods are unethical at best. Could the contract be invalid?

Please help as I am due to pay again by the end of the month.

Many thanks.

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Might be invalid under the Unfair Contract Terms Act, however, we would need much more info.

 

TFT


09/07/09 :)Business Studies BA(Hons) 2:1:)

 

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Well, once you have established whether you can get out of the contract, how about having a go yourself? The paperwork is the easy bit! I couldn't believe what some agents charge when i started reading on here! But I suppose at the end of a day they are a business.

 

Sounds like you have good long term tenants, so really, why waste money on the agent?

 

I hope you can get out of the contract, good luck.

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