Do you still have to pay Letting Agents fees after the contact ends?

sur77

Rented out house through LA on 6 mth contract on full managed basis (15% plus VAT pm) this comes to an end at the end of February. Tenants would like me to manage the property as if they have any issue they come to me first as the agents take too long to take action.
The tenants have also asked for a decrease in the rent which I have agreed to

Have told the LA that I will manage the property myself at the end of the contract and they are asking for one month rent plus VAT. I was not aware of this and the agents have told me that it is as per contract. I do not have anything on the contact that I signed to indicate this, is there any way out of this or is this the normal?

Any advice would be very much appreciated.

Fred1_2

If there really is nothing in the contract about this, you do not have to pay. Check the contract carefully and maybe ask your Trading Standards department to advise.

silvercar

OFT are taking Foxtons to court over a similar issue. Apparently Foxtons write into their letting agreements that a fee is payable by the landlord when the tenants renew. OFT alleges that this term is "an unfair contract" term and unlawful. Expect the issue to take years to resolve.

In the mean time, if it is not in the contract your letting agent can't insist on a fee. If it is in the contract, you may want to negotiate the amount, pay something this year and give them notice that you are terminating the agreement so they can't bill you forever more. The other option would be to tell the letting agent to take you to court if they feel they are entitled to the money.