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Letting agent exit fees
Eebe
Posts: 34 Forumite
For the past year a letting agent has fully managed my rental property. I would now like to take over managing it myself. The contract with the agent states I have to pay 1 month's rent plus VAT as an exit fee (because the tenants would like to stay on). This seems quite a lot to me and works out at about 8 months normal fees. Is this reasonable and would I have any way of arguing that it is excessive? The tenants paid a year's rent in advance which was sent on to me net of the management fees so the agent has had a year's worth of fees so far.
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Comments
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The time to discuss contract terms is before you sign the document. A contract is a legally binding document. Not something that can be argued because you've now changed your mind. How much notice is required to be given for a penalty free exit?3
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