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Letting Agent Rip Off?
dominicstannard
Posts: 9 Forumite
Hi everyone,
I'm going through the horrible process of trying to move property in London (from one rented, to another rented property in the same area). My contract ends in March so I informed my current Landlord and agent that I'd like to move out prematurely, and am happy to find a new tenant.
This was all fine but - first off, my current agent is refusing to give a reference to my new agent until i've found a replacement, leaving me in limbo trying to find a new tenant whilst also unable to secure my new property (seems odd).
Now on costs - i'm told i have to pay £66 to change the name on the tenancy agreement, I also have to pay £264 to "draw up a deed of assignment where the outgoing tenant assigns their balance term of tenancy to new tenant and remaining tenant/s and the deed is signed by all parties". What on earth is this and why does it cost £264?
I ALSO have to pay £60 to re-register the deposit held with the dispute service to the new tenant.
So, the move will cost £390 in total. Someone please tell me this isn't normal? I've also got to pay like £250 to my new agency ontop of the £1200 deposit and first months rent (£800) a month in advance, getting me close to an upfront cost of £3000. This is mad.
Please help!
:eek:
I'm going through the horrible process of trying to move property in London (from one rented, to another rented property in the same area). My contract ends in March so I informed my current Landlord and agent that I'd like to move out prematurely, and am happy to find a new tenant.
This was all fine but - first off, my current agent is refusing to give a reference to my new agent until i've found a replacement, leaving me in limbo trying to find a new tenant whilst also unable to secure my new property (seems odd).
Now on costs - i'm told i have to pay £66 to change the name on the tenancy agreement, I also have to pay £264 to "draw up a deed of assignment where the outgoing tenant assigns their balance term of tenancy to new tenant and remaining tenant/s and the deed is signed by all parties". What on earth is this and why does it cost £264?
I ALSO have to pay £60 to re-register the deposit held with the dispute service to the new tenant.
So, the move will cost £390 in total. Someone please tell me this isn't normal? I've also got to pay like £250 to my new agency ontop of the £1200 deposit and first months rent (£800) a month in advance, getting me close to an upfront cost of £3000. This is mad.
Please help!
:eek:
0
Comments
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Such fees are illegal in Scotland, since 1984.
Come on England, catch up!0 -
If your contract ends in March, then there's no tenancy to assign. You just leave, and it's up to them to find a new tenant. Why are you bothering to find one?0
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You signed a deal to stay until March. You are looking at ending the deal early. These fees seem reasonable to me in the circumstances. They don't have to release you at all.0
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If your contract ends in March, then there's no tenancy to assign. You just leave, and it's up to them to find a new tenant. Why are you bothering to find one?
presumably because we havent got to march yet, and as such he will otherwise be on the hook for rent up until then, (assuming the OP meant march 2019 not 2018)0 -
SmashedAvacado wrote: »presumably because we havent got to march yet, and as such he will otherwise be on the hook for rent up until then, (assuming the OP meant march 2019 not 2018)
Indeed - 2019, and yes I have to find a replacement otherwise I'd be the one having to continue rent payments. I'm perfectly happy finding the replacement as we usually do this through spare room, but the Deed of Assignment cost of £260+ seems too much, particularly as i can't find a single thing about this being a requirement online? Does anyone know what this is?0 -
Huh? Its August so leaving 8 months early. That's why.
I understand your consternation BUT the LA/LL doesn't have to let you leave early at all (is there are break clause in your TA?). You could be paying two lots of rent. You have to understand that they aren't in business to help you. There is a lot wrong about what LA's do, but at the end of the day, they don't have to release you from your contract. You are 'lucky' they are allowing this and not just putting up a brick wall and saying you will be paying the rent until March regardless.0 -
If your contract ends in March, then there's no tenancy to assign. You just leave, and it's up to them to find a new tenant. Why are you bothering to find one?
The above, unfortunately, is not true; the below, unfortunately, is. "T'aint right, t'aint fair, t'aint decent, t'aint honest" (sorry, Poldark) but 'tis legal in England and Wales. What artful said.SmashedAvacado wrote: »You signed a deal to stay until March. You are looking at ending the deal early. These fees seem reasonable to me in the circumstances. They don't have to release you at all.
Sorry, OP but welcome to the idiotically skewed world of private renting. I think your choices are to pay up or stay until March, giving letter-perfect notice to make sure you don't pay a day's more rent than you have to. Learn from this and be prepared next time. Good luck to you.
It seems LAs are mostly in the business of dreaming up yet more incredible fees; we seem to hear of a new one at least once a month on this forum. It really is high time they were made illegal. I can envisage a day when all these stupid fees will be the new PPI with all the associated claims; unfortunately that day is not here yet.0 -
there's nothing unfair about this. You signed up to March. You are lucky they are giving you the chance to end early at what appears to be a very small price.0
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dominicstannard wrote: »Indeed - 2019, and yes I have to find a replacement otherwise I'd be the one having to continue rent payments. I'm perfectly happy finding the replacement as we usually do this through spare room, but the Deed of Assignment cost of £260+ seems too much, particularly as i can't find a single thing about this being a requirement online? Does anyone know what this is?
Just to clarify are you leaving in march or now?0 -
Beg to differ; there is everything unfair in what private LLs and particularly LAs are allowed to get away with. Imho, it is criminal.0
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