My letting agency has been bought by old one!

My letting agency has been bought by old one!

10:29 AM, 23rd May 2016, About 8 years ago 2

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I used an established Letting agent to take on my tenant. However, as she had no references she paid 5 months rent for a 6 month contract. The agency never gained access to inspect, but continued on a one month rolling on contract. take over

I warned the agency I was a month out at the end of the contract, but did nothing and I lost a months rent. The property was left in dire straights, filthy and wrecked. The Tenant appealed at court for her deposit, and annoyingly she had part of her deposit back.

The agents took either minimum photos or non at all of the damage. I did take extensive photos, and all though the tenant did not get the remainder of her deposit back, it left me out of pocket after rectifying her damage including having to buy new carpet.

I have a different Agent and my present tenant has been there 3 years. I have just received a letter to say my previous agents have brought out my present agents that look after my property. I do not wish for them to manage my property.

Can I give instant refusal to taking over the management of my property. At present the previous only took the monies from my tenant and took a 10% cut.

Any repairs or maintenance has always been done by me.

Many thanks



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Neil Patterson

10:30 AM, 23rd May 2016, About 8 years ago

Hi Samantha,

What does your current contract say about locking you in?

12:26 PM, 23rd May 2016, About 8 years ago

Agencies can typically be taken over in two ways. The buyer can buy the actual business, or they can just buy the goodwill.

If they've bought the actual business you will almost certainly continue to be bound by whatever terms of business you signed with the old agent which would typically allow the agent to charge you a termination fee should you wish to continue letting to the same tenant but dispense with their services. That's because it's still legally the same business, it just happens to have a new owner.

If they've just bought the goodwill you almost certainly are NOT bound by your old agents terms of business and will be free to go. That's because "goodwill" is defined as the likelihood of existing customers continuing to use a company's services. If they've just bought the goodwill they've paid your old agent in the hope, but not the certainty that they'll retain your business.

I suggest you tell them you don't want to use their services any longer and see what they say.

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