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What Happens after a year - 'Rental'
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The agency for which I work does not charge a fee for renewing a contract.0
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rosysparkle wrote:The agency for which I work does not charge a fee for renewing a contract.
Thats because you're a nice MSE/LA who offers advise to all us poor people who have to deal with the sharper practices of some of the other 'reputable' firms.
My previous agent for my current flat didn't either, they were a lot better in general and as I was on good terms with my old contact there (I still am) they've also offered strictly 'you didn't hear this from me' advise and seem genuinely surprised at some of the questionable practices of their replacements.I do hope you're telling the truth?0 -
rosy - interesting questions ! yes, i always give tenants the AST a few days ahead of time, gives them time to read and go to CAB or whatever. The date the agreement is signed, does not have to be the same as "the start" date.
Up to now, my signing date/start date/hand over keys have been the same time.0 -
All the agents round here (outer London) charge massive fees for renewing tennancies, I thought I did well to get it reduced to 5%!
(That's 5% of the annual rental!)I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
silvercar wrote:All the agents round here (outer London) charge massive fees for renewing tennancies, I thought I did well to get it reduced to 5%!
(That's 5% of the annual rental!)
Very interesting. I have just been told by my new agents that there is a renewal fee (don't know how much yet, because the girl I spoke to didn't know). This fee evidently is for the one page Memorandum for the periotic tenancy.
AND they will also continue charging me the 8% of the annual rent.
I think I need to have a wander by their offices and explain to them that I get calls all the time from other agents in the area looking for my business.
Thanks Silver and all the others.FREEDOM IS NOT FREE0 -
My agent charges me and my tennat £35 each for the renewal - sounds like we are getting a good deal!0
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i dont charge my tenants anything for lease renewal - i consider that they are doing me the favour, not the other way round !0
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clutton wrote:I dont charge my tenants anything for lease renewal - i consider that they are doing me the favour, not the other way round !
As a tenant that's how I view it too! You have guaranteed income & 100% occupancy - but there isn't an incentive for LA in general to do this, why would you if you gain more fees each time a tenancy changes?I do hope you're telling the truth?0 -
silvercar wrote:All the agents round here (outer London) charge massive fees for renewing tennancies, I thought I did well to get it reduced to 5%!
(That's 5% of the annual rental!)
That's absurd, an extra 1/2 month's rent for renewing - I'd walk away and soonish. Have you checked with ARLA to see what, if any, is their recommendation for a 'fair' renewal fee.
I'd also inform the LL that you're thinking of leaving and why - he probably doesn't see any of this money and they are alienating his tenant & potentially causing him a vacant period - a loss of income.
5% is a disgrace, how do they sleep at night?I do hope you're telling the truth?0 -
Oops should have explained that the charge is to the landlord not the tenant!I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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