Foxtons - 2 year lease and cash upfront !!

arambol

Hi, hopefully you guys can give me an answer asap as I am about to sign a AST for a flat tomorrow.

I have just received the AST from Foxtons in London and it states that the term is for 2 years. There is no mention of a break after 6 months or even 12. Is this allowed or can I insit there is a break after at least 12 months? I presumed it would be a standard 12 month with 6 month break clause.

I also don't move into the property for 6 weeks as stated in the AST but they are asking for 1 month rent + 6 weeks deposit payable tomorrow with the signing of the lease. Is this fair or should I just be able to pay a "holding"deposit?

Appreciate any guidance.

sooz

RUN!



There is no way I would sign up with foxtons for 2 years.

Yes, it is 'allowed' to write an AST for 2 years, but no, you don't have to agree to it.

If you do want to sign, you can negotiate when you pay the deposit & 1st month's rent, but it must be cleared before you move in.


If you do agree to a break clause, read the T & C's about it VERY VERY carefully. You will probably find you can only use it on month 4, in a leap year, with a full moon, on a wednesday.
Once you have signed, you are liable for the full amount on the AST, so don't think that you can then change your mind. There is no longer a need for a 'holding deposit' as you are bound by contract.

Captain_Mainwaring_2

I wouldn't see anything that odd about it, it would be up to your to negotiate it to suit yourself, of course the agent wants commission for 2 years now, the may not be solvent next year.

arambol

On the form it says "Foxtons required cleared funds on the signing of the agreement".

Theses "funds" are 6 weeks deposit and 4 weeks rent. It's a fair chunk of cash and the estate agent actually agreed with me when I suggested a "holding deposit" .... but that was when he first showed me round. He's changed his tune somewhat now.

I want to sign as I want the flat but I don't want to give them the money 6 weeks before I move in. Can't really afford to.

I also want at the very least a 12 month break clause.

What are my chances and how should I phrase it?

Thanks guys.