15:03 PM, 26th October 2022, About A year ago 25
Hello. Our lettings agents found us tenants who stayed a year and then asked to renew for another year. Their contract was renewed for a further year and our agent charged us 8% of ‘incoming rent ‘ for the following year, billing us for the first 6 months of the one year tenancy.
After only a month our tenants had to leave the country for family reasons so gave notice and stayed a further two months.
Two things of concern: a) there was ‘incoming rent ‘ for only three of those six months for which we had paid the agent a percentage upfront, and b) the agents’ terms and conditions state that the percentage of rent they charge for the second year of a tenancy is 7, not 8.
The agents claim that the charge was payable whether or not there was incoming rent (although their invoice states “8% of incoming rent”) and was a fee for renewing the lease.
Are the agents entitled to a percentage of rent never received?
Is it reasonable to expect them to refund the difference between the 8% they charged us and the 7% we should have been charged?
These issues have only come to light now as we prepared our paperwork for submission to our accountant.
Any advice or suggestions much appreciated.
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