changing agency to private landlord

[pillion]

Hi,

I'm not sure if this is the correct thread but, Can anyone tell me what are the requirements are for removing the Letting agency from the agreement and just doing the letting privately. Would it depend on the agreement which was initially signed, or is there a time schedule by law which is prevalent to these things?

 

We've had a tenant for 3 years now and a 'management' company swiping 10% per month to look cheerful!!! Can we just terminate the agreement and keep the tenant with a new private agreement or are there complications in law?

 

If anyone has experience of this please can you update me?

Thanks in advance.

[raydetinu]

I imagine with due notice you can terminate, but would depends on the contract you signed with them.

The contract you have with the tenant will be unaffected as it between you and them anyway.

The deposit the tenant paid must be in your/their name but if done through the agent on your behalf that will need to be changed.

[Steve__M]

Read your contract with the agent.

 

Typically they may tie you in for the period of any agreed fixed term contract. If so, you need to make it clear to them and to your tenants that they should not agree a new fixed term.

 

Some contracts will aim to tie you in till the tenant leaves. A case against Foxtons agency indicated that such terms were potentially unlawful.

 

Do you know your tenant? Do they know you? If you are going DIY it is good to start to get to know your tenant a bit, and prior to switching over, find out if there are issues that the agent is managing to ignore which you may find harder to ignore (some tenants are a pain in the wotsits).

 

Many agents are terrible. I imagine some are good... A good agent would deal with your gas safety certificate, finding appropriate people in emergencies, doing inspections, and so forth. You need to be happy that you will be able to do it yourself.