Promoting the Managing Agent – what a cheek!!!
What do readers think of the following e-mail I received from my managing agent?
“VA Property Consultants are now SELLING properties in Luton and Dunstable and would like your help to create awareness for our new sales department. This is why I am contacting you as a valued client as we would like your support please.
We will be erecting one of our promotional boards (attached for your interest) on your property «SellingPropertyReference» which we have let/currently manage for a period of 4 weeks to promote selling houses to the local residents and the public.
The board will be put up on the 13/03/2015 and it will be removed by the 13/04/2015. Our professional board contractor will erect the board at the property neatly.
We have notified the tenants for their co-operation and wanted to ask you of the same out of courtesy. If however you object to a board going up please call my office as soon as possible as we would not want to upset our relationship with you.”
I have said no as I would not be happy if I was a tenant that there is a board outside advertising I am a tenant.
What would you say?
Regards
Sharmella
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Tenancy Notice Period - Tenants Questions
Member Since November 2013 - Comments: 36
9:28 AM, 12th March 2015, About 11 years ago
Reply to the comment left by “Mark Alexander” at “12/03/2015 – 08:51“:
Hi Sharmella
I run an Estate Agency in North London. We manage many properties and it is not unusual for many months rent to be paid in advance, particularly where financial circumstances mean it is difficult to pass references.
There is NO situation where we would hold onto a Landlord’s rent without them asking us to do so.
It is agents like this that give good ones a bad name. You may be contracted to them for the current let & renewals (if you allow the current tenant to stay past the current contact end date), but it is highly unlikely that you will be contracted to use their management services. Usually the management service can be cancelled with one month’s notice.
You should check the ‘terms & conditions’ that you signed. If you didn’t sign any then you are not contracted to pay the agent for renewals or managment.
If Mark is happy to pass on my details I would be happy to look at your ‘terms & conditions’ for you.
Member Since April 2014 - Comments: 985 - Articles: 2
9:50 AM, 12th March 2015, About 11 years ago
I don’t treat a 6 month advance rent payment any different than a monthly advanced payment, you would get your money less the agree management fee %. I would also agree to maintain a retained sum (say £250) to address arising costs. However, I do take some risk that the landlord does not top it up if spend is authorised to address problems during the tenancy term. I would have no other access to funds if the landlord does not transfer the money to me. What your agent has done is reduced that risk by agreeing to retain the advance and pay to you monthly. If this is agreed in the terms of business with you I don’t see that your agent has done anything wrong in this respect.
Member Since November 2013 - Comments: 36
9:59 AM, 12th March 2015, About 11 years ago
Reply to the comment left by “Rob Crawford” at “12/03/2015 – 09:50“:
Hi Rob
There would be an agreed retained sum that is usually around £150-250, but even this must be returned immediately if the Landlord requests it.
If there is no regular rent coming in because a large sum has been paid upfront to the Landlord, we would request a top up to cover any expenses prior to instructing any works.
The Landlord’s money should be held in a separate client account and is theirs to request any time they like. It cannot be witheld against their wishes.
Member Since April 2014 - Comments: 985 - Articles: 2
11:33 PM, 12th March 2015, About 11 years ago
Reply to the comment left by “ashley ” at “12/03/2015 – 09:59“:
Thank you Ashley, I am not seeking a lesson in this respect. If is agreed within the terms of business then that’s the way it works, irrespective of how odd it seems – it has been contractually agreed. It does seem a bit of a shark approach to me though.