long-term tenants

BitterAndTwisted

There's no absolute need to continue with your contract with the agent if they're not adding any expertise or services. However, many agents have quite long notice-periods and consider the tenant they found for you "theirs", so there could be a clause in our contract that you continue to pay them a commission every year on the anniversary of the original AST. I suggest you read your contract with the agent extremely carefully before you do anything.

mandm65

hummm, interesting aspect you highlighted, tenant they found considered 'theirs'. I did have a quick look at the agreement but nothing obvious re contract terminating so unsure what to do?

G_M

Werdnal wrote: »

... - anything longer than 3 years cannot be an AST anyway.... QUOTE]

Not so Werdnal.

Over 3 years, an AST must be Executed as a Deed. In other words must have the word 'Deed' onitand the signatures must be witnessed.

Otherwise exactly the same.

Over 7 years is problematic (you are into StampDuty & stuff...)

I can see that the tenants want security. This is a major problem for tenants these days, as they cannot really make a place home, redecorate (with permission of course) or otherwise invest their own £ in a place, knowing that whatever a LL may have said, the reality is they can get a S21 anytime.

Yes, a Periodic tenancy can continue for years, and often does. But in terms of real security it offers the tenant (and indeed landlord) little.

So there may be a case for much longer fixed terms (1, 2, 3 5 years) provided both parties are sure they want to commit for that length of time.

(I am reminded of threads we've seen here from tenants who have, for example, installed a new kitchen, having got written permission and a verbal assurance of permenancy from the LL, only to be evicted 6months later.

And we all post advice: "never invest you own £ without a long term tenancy agreement....."?

thesaint

Your promise is hollow in reality, so I don't see how it would put their minds at rest.
If it does, then great.

G_M

If you go down the self-management route, I would advise getting everything inplace before you inform the agent (you'll need to give X months written notice)

* speak to tenants and explain what you are doing and why. Make sure they understand the implications
* reassure them their deposit remains safe
* then WRITE tothem, formally, giving them:
- date to start paying you rent direct
- bank details etc for rent
- new address "for the serving of notices"
- phone number for repairs/issues etc

* then wait.... till 1st rent payment has come to you.
* only then write to the agents

In this way, the agent is not holding your cash. If there is any disputeover their fees (you'll still need to pay them during the Notice Period), they will need to persuade you (or a court) topay them.

If they have still been receiving rent, they can hold onto it and you have to persuade them (or a court) to release it.

"Posession is 9/10ths of the law...."

Then ensure you get the deposit in your name.
Get hold of all documentation the agent has:
- tenancy agreement
- original inventory(important!)
- tenants references, credit checks etc
- all correspondance to/from tenants
- rent account(showing payments, arrears etc)

All the above belongs to you. The agent was just holding it on your behalf as..... your agent! (don't accept rubbish excuses like 'data protection')

mandm65

Its not just my promise which may appear hollow, it can be seen from either side, naturally depends which side you choose to stand.
I have already started to search for my new ‘home’ so at least some sort of assurance, whereas if they decided to leave tomorrow, they got nothing to lose.
Would above make my promise hollow?

mandm65

G_M wrote: »

If you go down the self-management route, I would advise getting everything inplace before you inform the agent (you'll need to give X months written notice)

* speak to tenants and explain what you are doing and why. Make sure they understand the implications
* reassure them their deposit remains safe
* then WRITE tothem, formally, giving them:
- date to start paying you rent direct
- bank details etc for rent
- new address "for the serving of notices"
- phone number for repairs/issues etc

* then wait.... till 1st rent payment has come to you.
* only then write to the agents

In this way, the agent is not holding your cash. If there is any disputeover their fees (you'll still need to pay them during the Notice Period), they will need to persuade you (or a court) topay them.

If they have still been receiving rent, they can hold onto it and you have to persuade them (or a court) to release it.

"Posession is 9/10ths of the law...."

Then ensure you get the deposit in your name.
Get hold of all documentation the agent has:
- tenancy agreement
- original inventory(important!)
- tenants references, credit checks etc
- all correspondance to/from tenants
- rent account(showing payments, arrears etc)

All the above belongs to you. The agent was just holding it on your behalf as..... your agent! (don't accept rubbish excuses like 'data protection')

Fantastic G_M, this is the kind of response i was looking for.
I have had some issues with LA so i guess no harm in highlighting those when writing to the LA?

G_M

mandm65 wrote: »

Fantastic G_M, this is the kind of response i was looking for.
I have had some issues with LA so i guess no harm in highlighting those when writing to the LA?

I would only do so if/when they try tocharge a fee you disagree with.

When writing to sack them, less is more. Just a short simple letter giving notice to end the management contract. Perhaps another thanking them for their services to date. And a final sentence with bullet points listing the documents you require.

Un-emotive, factual, non-confrontational, friendly even.

If it gets nasty (hopefully it won't) then you start listing their breaches of the contract, unprofessional behaviou, negligence.....(perhaps after taking legal advice)

edit: when you:

* speak to tenants and explain what you are doing and why. Make sure they understand the implications

do it face to face, not phone(NOT text!). Ring and ask topop round for tea and a chat (but again, reassure them nothing amiss...!). Take a cake with you!

thesaint

mandm65 wrote: »

Its not just my promise which may appear hollow, it can be seen from either side, naturally depends which side you choose to stand.
I have already started to search for my new ‘home’ so at least some sort of assurance, whereas if they decided to leave tomorrow, they got nothing to lose.
Would above make my promise hollow?

I don't understand the question.

mandm65

OK in depth read of the T&C and found this in the intro section, was looking in the clauses section earlier :-).

You should particularly note that the fees for the letting and management (including renewal of tenancies) are payable not only for the initial period of the Tenancy, but also for the whole length of the time that the tenant introduced by us, or the occupant remains in the occupation of the property.


Then there is Cancellation of Contract on the last page of the T&C.


If you wish to cancel the contract you must do that in writing and deliver personally or send (which may be via electronic mail) this to the person named below (but there was no name supplied). You may use this form if you want to but you don't have to.

Where do I stand?