What is an unfair termination fee for a letting agent?

saajan_12

mfz1 said:

saajan_12 said:

Typically lettings agent fees are to terminate with the tenant still in situ. Is the plan to sell with the tenants to another LL? If not, then the tenant will leave at some point (either via mutual surrender or S21 + courts) so does the contract still require a termination fee when the tenancy ends? Please quote exactly what the contract with the agent says.

This is what it says:
TERMINATION OF AGREEMENT
Termination of this agreement can only take place when the property is vacant. Whilst tenants introduced by X are residing in the property you may not terminate this agreement. Should you wish to take over the management or transfer the management to another Managing Agent with a tenant introduced by X, you can pay a Let Only fee (currently 70% of one months rent, plus VAT) and we will surrender our services. Should the property be sold with tenants to another Landlord and X do not remain managing agents, the let only fee will be collected from the last months rent received by X.

Where X is the name of the letting agent.

Ok, so as expected, the fee is only if you still have the tenants in situ and want to (a) move to another agent / self manage or (b) sell. For the former, that's a decision for you - if not having to deal with these agents is worth the termination fee. For the latter, selling with vacant possession opens up a broader pool of buyers rather than restricting to LLs only. Hence you have a better chance of getting a higher price by selling without tenants. That decision and price difference is going to be much bigger than the termination fee, which is comparatively tiny so don't let the tail wag the dog. 

mfz1

UnderOffer said:

I believe, due to COVID, the Landlord has to give 6 months notice now. Their tenant is going nowhere at the moment. 

Someone more knowledgeable will be able to give more info. 

https://www.gov.uk/private-renting-tenancy-agreements/your-landlord-wants-to-end-your-tenancy

Oh no it is an AST. At the same time  you don't want the tennants to go through a torrid time during what are already uncertain times. Perhaps just swallow the letting fees, find one of these cheap online estate agents to advertise the property with Tenants in situ. Agreed it might reduce the potential buyers but once a potential buyer does come along it will be mutually beneficial for all parties.

Irrespective of what they decide to long term, are there grounds for acting upon "Consumer Rights Act 2015 replaced the Unfair Terms in Consumer Contracts Regulations 1999"? If such a thing is applicable?