Do I need to pay Foxtons for a New Contract?

Jonesbo

Hi,

I've rented my flat out - through Foxtons - for a year, which is now coming to an end and the tenant is not renewing.

It's about to go back on the market, and Foxtons have told me that I'll have to pay all the fees over again when a new tenant signs because it's essentially a whole new contract.

I understand this and I'm OK with it. However the bit I'm unsure of:

Foxtons charge you something like £400 for the actual paper contract. Obviously they expect me to pay this again for this year's contract. However couldn't I just re-use the contract that I already paid for last year? In the same way that some people go and just buy a ready-made contract from WH Smith, would I be right in thinking I 'own' the contract that I've already paid for?

I hope that makes sense.

Also are Foxtons ever open to negotiation? If all the fees are the same then I will list with other agents also, but would be happy to solely list with Foxtons if they were willing to waive the contract fee.

Thanks in advance

angrypirate

The contract is a pro-forma one written a long long time ago. You are paying for someone in Foxtons to fill out the new tenants detail on the contract and to hit print. Its how they make their money. If you dont like the fees then go with a different agency - you may find they will offer to drop their fees if you threaten to leave. On the other hand be prepared to leave if they dont.

I used to rent - i never went with Foxtons because their fees were too high.

G_M

Simple question - why are you employing Foxtons?

Selecting the right agent is at least as important as selecting the right tenant.

Jonesbo

No fan of Foxtons...but I've been using them for one simple reason:

The flat was listed with 3 agents last year, one independent one and two well known (incl foxtons).

Foxtons came through with three or four separate offers. The other agents had not a single offer between them.

Jonesbo

The contract is a pro-forma one written a long long time ago. You are paying for someone in Foxtons to fill out the new tenants detail on the contract and to hit print. Its how they make their money.

My understanding is that most agents do exactly the same for a new tenant as opposed to a renewal, it's just that Foxton's fees are higher.

I guess what I'm asking is has anyone (with any agent) turned round and said I'm not paying for a new contract this year because I already paid for one last year.

Foxtons seem to justify this fee by saying 'our contract is constantly updated by our lawyers...'. Which seems to me to be a different argument from 'you don't own the contract you paid for, hence having to pay for a new one with each new tenant'.

I realise I can just go and ask them for an explanation, but I just want to be fully informed before I do.

Out,_Vile_Jelly

They'll argue that it's not the same contract as an office lackey will have C&Ped new names and dates in. It will no doubt be in the T&Cs that you signed up to.

Foxtons are notoriously awful and will cheerfully rip both you and your tenant off. Shop around for other agents.

Vomityspice

Foxtons seem to justify this fee by saying 'our contract is constantly updated by our lawyers...'

Or in reality, what they actually mean is someone in their legal department occassionally looks at the Practical Law website and copies across the boilerplate contract if a new one appears......

At least on a £400 fee they can afford the subs for the website.

G_M

If the only reason you are using F is because they found a tenant where other agents didn't:

* why not employ them on 'tenant-find' basis?
* Why not draw up your own contract?
* why not use a different agent, & reduce the rent to attract tenants? A slightly reduced rent could easily be offset by cheaper management fees....

dotdash79

Foxtons charge x amount for a service, if you are happy with the service pay them.

If you think you can get a better deal try somewhere else.

I'm not a big fan of foxtons but they have done what they said they would do. Also have you spoken to your tenant to find out why they are leaving? Have foxtons told them that you aren't renewing their contract so they can charge for finding a new tenant?

MrLlama

As an experienced tenant I would never use Foxtons because of the huge amount they charge to tenants for referencing (from personal experience) and their very poor reputation in the letting industry for hiding their fees and trying to extract as much money from tenants/landlords as possible with their high renewal fees.

I expect the number of good, experienced, long term tenants you may receive from Foxtons may be severely limited because anyone with half a brain would run a mile when they try and trick you into paying £500+ in 'admin fees'.


EDIT: also check with the departing tenant to make 100% sure that they want to leave on their own accord and not because of Foxtons shoving them with a massive renewal fee or telling them to leave so they get another set of contract fees from yourself.

Sandhy

I've been in private rentals (as a tenant) for 17 years. I would not touch Foxtons with a barge pole. They are aggressive money-grabbing *insert expletives* and I could name one or two others too. I would walk away from any property if Foxtons was the agent.
I found the best ones are the well known and established local independents.