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finders fee... seriously ?!!


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I have just bought a place and have decided to keep the existing tenants. The tenancy agreement finishes in two months and because the tenants are a respectable bunch and I have got to know them quite well I have decieded that I don't need the services of the letting agent anymore. So I thought i could just let the agreement run its course and and cut the agent out of the equation then draw up my own contract with the tenants.

However when I told the agent of my plans they said that i would have to pay them a 'finders fee' of 500 pounds, 100 each.

Do i have to pay this? I have never read/signed any contracts with them whatsoever, they have got their 10% per month from the existing 6 month agreement (+ 2% or whatever from the sale). Surely what happens now is between me and the tenants. I think they are trying it on a bit

Problem is if i just let it run its course they will probably take the 500 pounds out of the last months rent. So i really have to confront them in some way, which i have no problem with, but i need to know for certain that they trying it on.

Any thoughts welcome.



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You are under no legal or moral obligation to pay them anything.

You have not signed anything or had verbal agreement contact with them.

You may change Agency if you so wish.

The only stumbling block is ......... it sounds like your Tenants are paying directly to the Agents who in turn pay the Landlord.......that needs to be sorted out.....in your favour.

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