Commission on Lettings – where do we stand?Make Text Bigger
I would be most grateful if you would kindly advise me on the following matter:
1) Our owner (a client) has recently sold the property with our tenants in situ (on an AST);
2) The tenants’ deposit is protected by the Company via TDS;
3) We have an agency agreement with the previous owner, our commission is charged monthly;
4) The new owner is requested our tenant pays them directly from completion date.
The questions are:
a) Where do we stand on collecting our commission?
b) What happens with the tenants’ deposit? and;
c) Can we deduct our fees from the tenants deposit which the new owner is liable to pay back?
I look forward to hearing from you.
Many thanks and kind regards
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