Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
I rent 16 properties out and used an agent to manage them. I instructed them in 2007 and signed T&Cs. I recently added 10 properties to the portfolio and financially it made sense to employ someone to look after them rather than pay the agent fees.
The T&Cs I signed state: “You may withdraw your instruction to us by giving 3 months written notice. In the event the properties are handed to you with tenants still in residence our charges will continue to be payable as if we were instructed on rent collection basis only”
So I gave the 3 months and they have deducted all of the monies for the fixed term contracts in one hit (e.g a contract due to expire in Feb 14 I have paid all of their fees till then now – really hit my finances hard best part of £10k in total).
They waived the fees for 2 flats fees as they were running periodic as a “good will gesture”.
However since the handover I have discovered 3 of the other flats charged out already have not had signed contracts returned, so are running periodic, yet I have been charged a years worth of management fees.
Also one of the tenants is breaking early in September and again, I have already paid for 6 months extra of fees.
They have emailed me today to say I won’t be seeing any refunds as it is also my liberty to chase the contract extensions!
The fees for just these 3 flats comes to £1,800 so I am keen to get a refund if possible.
Where do I stand legally on this? I understand the T&Cs I signed so reluctantly didn’t put a fight for the other 12 flats, but I feel a real injustice being charged for these periodic ones when they haven’t got the contracts signed – and I am still paying them!!
An interesting one and I look forward to your views.
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