I’m in the process of purchasing my first buy to let. I’m buying it through an agent, who also manages it for the current owner.
I’d like to keep the current tenants and they’d like to stay. However, I’d like to manage the tenants directly, without an estate agent being involved.
In spite of this, the estate agent is asking for a fee in return for finding the tenant for me. I’ve argued that I don’t require any work from them at all, and don’t have a contract with them, so there’s no reason I should pay them. But needless to say they’re quite keen on the idea that I owe them money.
Does anyone else have experience of this?
Is it common practice?