Estate Agents + BTL

[ratewhore]

Go and discuss it with the big cheese at said agency. You never know.

[PAH]

The contract stipulates that if the current tennants stay in place, or return to the property within 18 months, then I will have to pay the agents fees again.

You was a mug to agree to that. Agents are scum and cheeky bastards. Just imagine the laughs they'll have when you hand over their fees for doing absolutely nothing.

The easiest solution is to increase the tennant's rent to offset the agents fees, just don't tell the agent. Doubt they can check what rents are currently being charged if they're not involved in the management at all.

[Diver]

Don't know, but no one likes to see an agent suffer.

[tim123]

No, they've not managed it. I'm just not sure of enforcable the contract is.

The OFT are currently starting a court challenge to these clause.

If the OFT win then it's not enforcable, if the OFT lose then it is enforcable.

HTH

tim

[PAH]

The OFT are currently starting a court challenge to these clause.

If the OFT win then it's not enforcable, if the OFT lose then it is enforcable.

Surely the critical point (as with any contract) is it was signed therefore accepted, regardless of the terms.

No point spitting your dummy out because you thought the scenario they covered in the contract wouldn't happen. That's why you have a contract in the first place. If you're not happy about any of the terms, get it changed or don't sign it!

[b0redom]

Yep. Well I called up the estate agent, and they're not prepared to budge on the 10% + VAT upfront costs, so looks like it's time to sack them off.

[beercohol]

Yep. Well I called up the estate agent, and they're not prepared to budge on the 10% + VAT upfront costs, so looks like it's time to sack them off.

The trouble is, these days its all too easy to drag someone to court over even a very small unpaid invoices.

If I was the agency (and wearing the agency hat), you'd be hit by invoices and statement of account until I feel ready to fill out very simple Claim Form to the court. It would run though Small Claims, and you'd be hit by statutory late payment interest in addition to the full outstanding amount, plus debt recovery costs (starting at a measly but still annoying £40), and court costs of course (probably £60 or £100 depending on how much they let your debt mount up before coming after you).

NOW WAIT, THATS JUST HYPOTHETICAL, and an exploratory account of what they can do.

If I was you (and had my stuff-the-greedy-agency) hat on, I'd take another look at the contract. There are often some excellent ways of doing this kind of thing without breaching it.

[ChimpMaster]

Just get new tenants. You'd be surprised how much a council would pay for you to house their tenants, and you get to pick and choose your tenants so they're not all bad. And the rent is guaranteed, with no "commission" taken out.

[b0redom]

Really? Have any info on how to find out about that?

[PAH]

Yep. Well I called up the estate agent, and they're not prepared to budge on the 10% + VAT upfront costs, so looks like it's time to sack them off.

At least they're no longer guessing whether you've got the same tennant.