Albert47

Hi guys,

Does any one know what the score is with letting agents, when I want to ditch the letting agent but keep the tennents (that he found through his compnay) in my house. Due to the credit crunch we are tightening our belts.

It's been 9 months since the tennets move in. We employed a letting agent to deal with every thing and he takes 10% a month of the rent. I have a good relationship with the tennent and it's going to be a long term thing. It's turned out he works in the same place as me, but different department. So i don't want to pay an agent for something I can now do myself.

I don't want to screw the agent or anything as he did find me good tennents, but don't want to pay all that money a month for nothing.

I will do some research and look at my contract later. I was looking for some experiences and general info from you lot. what to do, what not to do, how to do it.

Thanks
Adam

PaulC72

Speak to them I imagine unless you have a term in your agreement it will either be at the end of an agreed month or at the end of the 6month tenancy. But usually speaking to the agent works wonders we did and they were fine with it.

orbix

When you do split from the letting agency it might be an idea to join an landlords association group, as they will send you a magazine which tell you of any changes in the law's etc..

You might not need to with the current tenant, if you know them, but the last thing you want is a tenant that knows more than you!

The cost of joining is tax deductible as well.

thesyn

Read your contract, while that tenant who was introduced to you remains a tenant you will continue to pay the letting agency, few percent less probably.
But guaranteed, I know to my cost for the last 7 years.
Like you say it is all tax allowable.
I love the sentiment of not wanting to screw the agent over, you have a lot to learn grasshopper

Albert47

Thanks for the info.

It does say in my contract, that we have to give three months notice. I might give him a ring tomorrow and see what he has to say.

I'm concerned he's gonig to say tough wait untill the tennents move out. then I'll flip! My own fault really should of read the contract properly.

I'll ring him tomorrow.

Thanks adam

Just re-read my contract again, it basically says what you lot told me although it does state that "regular inspections are carried out every three months" and I even wrote down in the special instructions that I wanted "reg inspections required" I know from talking to the tennent that he has only done one inspection in nearly 9 months. Surely that is a breach of contract.

What do you think?

Fair comment about screwing the agent over!!!

thesyn

Good luck, let us know how you get on.
I wasn't having a go, it's just that if you think that car stealers are out to rape you then letting agents are at a whole other level.

gpssti4

iTrader: (6)

Yes it is. I managed to get rid of my agent for this reason. Put it in writing and post it to them. Mine told me that I had to give them 3 months notice, I told them that they were in breach of contract by not inspecting every 3 months and that they I was taking over the letting management with immediate effect. It worked.

Albert47

I'm going to give it a go and see how I get on? What happens to the Tennents desposit that the letting agent holds?

Ill let you know how i get on.

Thanks for the help any more info please post.

fivetide

iTrader: (1)

Deposit has to be held by a 3rd party these days so not sure.

My Tenents didn't pay a deposit... they paid two months rent up front...

5t.

salsa-king

we do the same, don't take deposits anymore... just take advance rent

james baldwin

This happened to me but from the other side of the fence - i found my gaff through a letting agent, and at the end of the 12 months my landlord decide to lose them and rent it privately.

Sent new tenancy agreement and everything has been fine