Unreasonable charges
1:50 PM, 4th February 2016, 10 years ago
39
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My Estate Agents are saying they will be charging me £25 to tell the Tenants Deposit Scheme I am moving over to a Periodic tenancy.
I have self-managed and never had to do this!
Do they have to do this or do they only contact them again when they want the tenants deposit returned?
I hate unreasonable charges from the Estate Agents.
Thanks
Deborah
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Member Since August 2014 - Comments: 19
10:25 AM, 5th February 2016, About 10 years ago
Why don’t you give the TDS a call and ask them?
Member Since July 2015 - Comments: 154
10:30 AM, 5th February 2016, About 10 years ago
Does your existing TDS certificate include an end date and will a new certificate be issued showing that the tenancy is periodic?
Member Since July 2013 - Comments: 42
10:46 AM, 5th February 2016, About 10 years ago
It does not cost anything to ‘roll’ the tenancy/lease at the end of the term. You just go online with the insurance company and click a button.
I imagine they are charging you to press that button and possibly to print out a new certificate for the tenant to sign.
Member Since July 2013 - Comments: 233
10:59 AM, 5th February 2016, About 10 years ago
Whilst that is probably a job they may well have to do (Depending upon which scheme it is) I would have thought that sort of task would be within their monthly management fees.
Member Since March 2015 - Comments: 1969 - Articles: 1
11:11 AM, 5th February 2016, About 10 years ago
I’m an agent. I wouldn’t do it for free. Do it yourself and there’s no problem.
If you can’t do it, then you need the assistance of the agent, which is going to cost.
Member Since July 2013 - Comments: 233
11:15 AM, 5th February 2016, About 10 years ago
So what does your monthly management fee include then?
Member Since April 2015 - Comments: 33
12:06 PM, 5th February 2016, About 10 years ago
remind me not to use you Luke
Member Since March 2015 - Comments: 1969 - Articles: 1
12:10 PM, 5th February 2016, About 10 years ago
Mine?
Very little for the basic fee (if you discount my extensive experience…100+ properties of my own over 30 years). Extras need to be paid for.
This specific undertaking aside, why are so many landlords under the impression that their agent does everything and anything (including all the newly introduced tasks, such as Right to Rent checks), for one all-inclusive fee?
I have numerous landlords who I have managed for over 10 years, back when there was much less legislation. Could they reasonably expect that I now perform residency status checks, legionella assessments, smoke alarm tests etc. -all of which are new requirements- with no increase to my income?
My terms do not state ‘Full Management’ which I know other agencies, perhaps regretfully, do. I think it is because of this many landlords think all agencies are the same and basically that anything at all to do with the property that is being looked after (apart from the obvious repairs), should be catered for within the fixed management fee.
Even if all agents agreed to perform all property related tasks required by law as of today’s date for the one fee, what do you suggest when (inevitably), more requirements are put in placed in one, two or ten years down the line?
Member Since July 2013 - Comments: 233
12:26 PM, 5th February 2016, About 10 years ago
Luke, I agree there are some things that one would expect not to be included in a standard management fee such as – as you suggest the legionella assessments and even management of maintenance contractors (As the extent needed varies to a great extent on the condition of a property). However when it comes down to everyday tenancy admin (Like deposit protection etc) I would have thought this would all be included in whatever fee you have decided it is appropriate to set. Playing devils advocate for a moment are you as evasive with your Landlords as you have been so far on here in answering the question about what you do actually include as standard?
Member Since March 2015 - Comments: 1969 - Articles: 1
12:31 PM, 5th February 2016, About 10 years ago
Reply to the comment left by “Ray Davison” at “05/02/2016 – 12:26“:
I did say it was very little and without churning out all the T’s&C’s, basically I set up the tenancy and collect the money in to pass on.
We do not take deposits on any of our properties and haven’t done since 2007, so this specific does not apply to me.
Regardless, my terms are not what’s in question here. It’s Deborah’s agent.
“I would have thought this would all be included…” is where many go wrong. Don’t think. Don’t guess. Don’t assume. Find out.