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Moving From Letting Agent To Private Rental

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Yo..

I rent out a house at the moment through a letting agent. When we set up the agreement a year ago I had to decide between paying commission (to the agent for finding a tenant) or a monthly fee (for rent collection fees, management etc etc).

My tenant's agreement is up in two months. At the very least I would like to cut their rent my cutting out the Middle Man (i.e. the Agent).

Since I have had the tenant for a year, and given that the Agent has had a years monthly fees off me, is it likely that I can now just agree a private arrangement with the tenant? What I want to know is can the Agent charge me a 'finders fee / commission' for the second year even though I want to cut the Agent out of all this?

If then can..... then I think a way out is to simply let the rent agreement finish and then start a new agreement with the tenant direct - how can the Agent then do anthing about it?

Thanks for any comments

Mark

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Yo..

I rent out a house at the moment through a letting agent. When we set up the agreement a year ago I had to decide between paying commission (to the agent for finding a tenant) or a monthly fee (for rent collection fees, management etc etc).

My tenant's agreement is up in two months. At the very least I would like to cut their rent my cutting out the Middle Man (i.e. the Agent).

Since I have had the tenant for a year, and given that the Agent has had a years monthly fees off me, is it likely that I can now just agree a private arrangement with the tenant? What I want to know is can the Agent charge me a 'finders fee / commission' for the second year even though I want to cut the Agent out of all this?

If then can..... then I think a way out is to simply let the rent agreement finish and then start a new agreement with the tenant direct - how can the Agent then do anthing about it?

Thanks for any comments

Mark

What does your original contract say?

If it doesn't say that they will charge you a fee then they can't!

If it says that they will charge you a fee then they may be able to. Whether they actually can or not will depend upon the result of the "Foxtons" case now being pursued by the OFT. This type of clause being one of the ones that they are challenging.

tim

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THanks for all replies so far.

As far as I can see, from the details I have, if I simply give notice for the tenant to leave then as far as the Agent is concerned that is it - complete. What I do after that time is of no matter to the Agent ?! The fact that, for example, I let the tenant stay in the house for 'free' for one day so there is a break in rental period should also be of no concern to the Agent. I can then let the Tenant stay on new, far better terms..... at least that is what I thought?!?!

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Yo..

I rent out a house at the moment through a letting agent. When we set up the agreement a year ago I had to decide between paying commission (to the agent for finding a tenant) or a monthly fee (for rent collection fees, management etc etc).

My tenant's agreement is up in two months. At the very least I would like to cut their rent my cutting out the Middle Man (i.e. the Agent).

Since I have had the tenant for a year, and given that the Agent has had a years monthly fees off me, is it likely that I can now just agree a private arrangement with the tenant? What I want to know is can the Agent charge me a 'finders fee / commission' for the second year even though I want to cut the Agent out of all this?

If then can..... then I think a way out is to simply let the rent agreement finish and then start a new agreement with the tenant direct - how can the Agent then do anthing about it?

Thanks for any comments

Mark

I wont advise on cutting your agency agreement. But if you are going it alone to find a new tenant in the future dont accept anything less in references than your agency would- if someone is prepared to have you look at 3 months of each their bankstatements and allow you to call up references, they can be presumed to be serious.All the contracts standing order forms and anything else you may need are available to download on Landlordzone. Dont skimp on the paperwork, and read some more of these tenants threads to see what they think of you as a landlord too. It is a business afterall.

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