samtan Posted January 23, 2007 Report Share Posted January 23, 2007 I am quite a newbie to this but-to-let world. I have a total of 3 properties now, of which, I manage 2 of them and the other one a letting agent manages for me. My question is this, I would like to manage the 3rd property myself now and would like to know as to what is the best way of getting rid my letteing agent properly and without breaking any rules/laws Kind Regards samtan Link to comment Share on other sites More sharing options...
Melboy Posted January 23, 2007 Report Share Posted January 23, 2007 Trenners will probably give you the 100% correct answer as a Letting Agent but as I understand it if you still have the original Tenant under the original contract issued by the original LA then you are stuck with the situation until that original Tenant quits. You cannot get rid of your LA. Link to comment Share on other sites More sharing options...
samtan Posted January 23, 2007 Author Report Share Posted January 23, 2007 Trenners will probably give you the 100% correct answer as a Letting Agent but as I understand it if you still have the original Tenant under the original contract issued by the original LA then you are stuck with the situation until that original Tenant quits. You cannot get rid of your LA. Thanks for your prompt response. Trenners? sorry!! If that is the case, whats stoping me issuing 2 months notice to regain the property and then just get the tenant to resign a new tenancy agreement with me? Your thoughts...... Link to comment Share on other sites More sharing options...
Trenners Posted January 24, 2007 Report Share Posted January 24, 2007 Hi samtan I would advise that you check the terms and conditions that you have signed with the letting agent as there will almost certainly be a clause that states that if you try and deal direct with the tenant then you will still owe the agent fees due under the contract. Others on the forum will argue that these maybe "unfair terms" but, the fact remains, that you agreed to these terms when your property was empty, tenantless and generating no rent. If you really really want to get rid of the agent - the simplest method is to wait until your existing tenant leaves and then re-market the property yourself. If your agent is giving you poor service (ie: not visiting the property, not paying you the rent promptly etc) then you could write to the agent and terminate your contract with them because they have not delivered the services that they promised. ie: the agent is in breach. The most important thing in all this, though, is the TENANT. You must make sure that they do not get caught "in the crossfire" of the argument between yourself and the agent. Surely it is better to keep paying the agents fees (for the time being) and have a happy, rent paying, tenant in your investment property than unsettling the tenant causing them to quit ... and then having the place empty and generating no rent for a while ? You could try going down the Section 21 route .... and risk legal action from the letting agent ... but why would the tenant want to agree and get involved in this dispute (unless you are proposing to reduce the rent thereby wiping out any savings in fees that you, as a landlord, are going to make). I still think it is best to wait for the tenant to leave of their own accord then re-market it yourself. Good luck, Mark Link to comment Share on other sites More sharing options...
GPEL Posted January 24, 2007 Report Share Posted January 24, 2007 Many contracts related to management of property will have a termination clause, such as 2 months notice after the initial 6 months of a let etc. This is reasonable as you are receiving a service and paying for it during the notice period. Termination may be a bit more complex with a tenant-find only contract with tie-ins beyond the initial service. Bottom line, check the T&Cs and go with it. Link to comment Share on other sites More sharing options...
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