Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
I’ve absolutely no idea what I’m to do with this – I let a flat last year (13 months ago) on a 4 year let to a company with a personal guarantee. The rent was paid for a year minus the commission (via the agent) the commission was fully paid (4 years’ worth and I did argue but told that this was their policy etc) after 12 months and I had one month full rent before the company stopped trading – this was nothing to do with the Virus crisis, but this is the excuse used now as the waters are very muddy with the agent as they are lumping this in with tenants walking away and handing back keys due to lost jobs and students returning home. This is not the case with me.
It’s quite an awkward situation in itself as the Guarantor is now saying he had no idea he was a Guarantor (signed contract) so is saying that the contract is null and void and he wants his deposit back – I doubt there is any point in chasing him – the flat is empty, good condition and he’s happy to hand back, but my issue is with the agency who have 3 years commission and I have no rent/tenant. The contract with the agents does state that if I break the contract or enact a break clause then commission is non returnable, but nothing about a tenant breaking the contract – any advise for me on this please. I am not taking it back, I am being given it back if that makes any difference.
The response from the agent is to give a 3 months rent holiday and then go for the directors/Guarantor if no further rent: Go for the directors anyway or take it back and be liable for all empty costs/council tax – they are not mentioning my request for return of commission
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