Agent Renewing fees?

Agent Renewing fees?

10:48 AM, 10th March 2021, About 9 months ago 18

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For the second year, I’ve received notification from the agent that in addition to the charge for a new tenancy agreement they want renewing fees which amount to over £1000 for doing nothing. This is a SCAM.

I don’t mind paying for the new tenancy agreement which essentially is a copy and paste exercise with new dates.

Is there a way out? Can I get the current tenant to renew with a different agent?

Seems to me that the Estate agents feel they own the tenants!

Jeevsie



Comments

by Badger

7:28 AM, 13th March 2021, About 9 months ago

Once or twice I've had agents try this on with me.

Typically they back down when I complain.

If they don't then they lose the business.

Having said that, we are fully managed across all of our properties and I don't think I have ever had to terminate an agency agreement on that basis in 35 years as the agent always sees sense.

If going periodic after a fixed term AST then make sure that the original agreement specifies that it goes contractual periodic, not statutory periodic or simply periodic (same as statutory periodic) as this is less hassle for you as a landlord when the tenant does eventually issue notice.

by Landlord Phil

8:58 AM, 13th March 2021, About 9 months ago

I've been a landlord for 12 years & rent multiple units. I only ever offer 6 month ASTs, then let the, run as periodic. It's never been a problem. Check if the deposit is lodged in your name & if so, let it run into periodic. You're being conned because the agent can't charge the tenant. If the deposit isn't in your name, contact the TDS. They will help. Seriously, this agent needs naming & shaming. It's one thing to charge for managing a property, but to try to stick you with an expensive renewal that isn't required is totally out of order.

by DGM

12:16 PM, 13th March 2021, About 9 months ago

I have one tenant that has asked for a year extension and want a new AST contract, the agent is going to charge me £250 + Vat which is ridiculous for a cut and paste. They are also charging the tenant £50 + VAT to put the husband on the AST as the original was just the wife, passed all references etc. I have said that the tenant told me they will be moving out after the next year expires as this is a one bed house and have just had a baby so will not be big enough.
I told the agency to go ahead, I don't want contractual arguments but told them I won't be using them next year when the tenant moves out with prices like that, their loss, plenty of other agents in the high street.
I have properties with another agent, in the next town and they charge a flat £100 for renewal as they admit it is easy money.

by Landlord Phil

10:16 AM, 14th March 2021, About 9 months ago

I don't know why you're renewing with the agent. There's no need. A periodic tenancy is legal & adequate. However if you really have a compulsion to renew, & don't understand why you do, as you say, it's cut & paste. Do it yourself. Or, and here's a value for money offer, I'll do it for half price, £50, no vat. Interested? I don't know why you would be though.

by Sanjeev Markanday

10:27 AM, 14th March 2021, About 9 months ago

Reply to the comment left by Landlord Phil at 14/03/2021 - 10:16
Thanks I'm going down the periodic tenancy route which is also favoured by the tenant. Not heard back from the agent who seemed to have lost interest in me 😥😄

by DGM

13:15 PM, 14th March 2021, About 9 months ago

Reply to the comment left by Landlord Phil at 14/03/2021 - 10:16
The tenant wants to renew, I guess for their own piece of mind, I have said to go onto a periodical as lots of my others are. They are good tenants so if this keeps them happy so be it. The agent will lose my business next year so that is their loss. You know the saying short-term gain, long-term loss.
They are just out to make money, they have also contacted me about getting EICR's done through them, I said no thank you and pointed out they are twice the price of a normal EICR, obviously their massive mark up.

by Landlord Phil

17:21 PM, 14th March 2021, About 9 months ago

So why not copy & paste with new dates? What's the point in paying the agent to do it? The agent should lose the business now, not next year. This is about making money, not paying agents wages, unless you feel sorry for those poor letting agents. I don't, never have, never will. Like I said, £50 & ill do it.

by Landlord Phil

17:25 PM, 14th March 2021, About 9 months ago

In fact for £50 ill even use my own AST if you want. Or you could download the gov suggested document for free.


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