Is it worth going back to self-managing my rental properties?
1 year ago | 14 comments
Takeover of letting agency and transfer of agreements?
12:02 AM, 2nd May 2025, 12 months ago
1
Hello, My letting agent got taken over, and then that company got taken over a few months later.
Now the current one is saying that the original letting agreement I signed has been replaced by theirs – even though I’ve never been sent a copy.
My understanding it that when a company is sold its legal contracts are sold with it, although there may need to be a clause in the contracts that allows for this to happen.
Does anyone have experience of this situation?
Thank you,
Alan
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Member Since January 2020 - Comments: 559
9:33 AM, 2nd May 2025, About 12 months ago
Alan
It’s not clear if you are talking about your management agreement with the agent, or the tenancy agreements with the tenants, although the answer is very straightforward in both cases.
I have bought several agencies over the years.
The agreements with the landlords cannot be changed by the agent unilaterally, so any terms previously agreed stand.
We have implemented new agreements, simply because the previous agents’ ToB were weak or dated. We work hard at not changing the fundamentals so clients have little to object to, although some terms were downright uncommercial so we do try and change these with the landlords’ (clients) agreement. In due course we get them all on our terms, but it’s a slow process.
As for the tenancies, these are between the landlord and tenant so do not need changing at all.