Tenant find service charges by managing agents?

Tenant find service charges by managing agents?

9:34 AM, 5th November 2024, About a month ago 1

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Hello, I signed a contract with a 12% fee three years ago with a managing agent to handle my HMO in London. I am now looking to switch to another agency as I am unhappy with their service.

When the agency took over, the property was fully let, so they started collecting their management fees off the rent immediately even though it took them a while to transfer all the relevant utilities etc.

I am now reading through my contract, and it is obviously an oversight on my part, but it states that if I decide to terminate my contract with them, they will be entitled to a tenant find fee of 8%.

I am wondering whether this is fair/enforceable since they did not take over an empty property.

Some of the original tenants have left and have been replaced since then, some have been my tenants before the agency took over.

Any advice?

Thank you,

Nadia


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MrMarpat

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12:38 PM, 5th November 2024, About a month ago

Your last sentence states some original tenants have left and been replaced with new tenants, I presume by your current agent, so how can you refuse to pay the tenant find fee.

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