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  • FIRST POST
    • jpandgd
    • By jpandgd 12th Aug 18, 2:14 PM
    • 3Posts
    • 0Thanks
    jpandgd
    agency agrrement
    • #1
    • 12th Aug 18, 2:14 PM
    agency agrrement 12th Aug 18 at 2:14 PM
    We are renting out our house. We instructed a letting agent a month ago. So far we have only had 1 viewing. We have possibly found some tenant that would like rent privately.
    There is a clause in the in contract that reads ' if you terminate this agreement, a termination fee equivalent to three months rent will be payable by you, and any outstanding element of the service charge or other monies due to us under the terms of the agreement must be paid bu you prior to the termination'
    Considering they have not even found us tenant do they think they expect us to pay 3600 just to terminate a contract.
Page 1
    • Annie35
    • By Annie35 12th Aug 18, 2:44 PM
    • 238 Posts
    • 203 Thanks
    Annie35
    • #2
    • 12th Aug 18, 2:44 PM
    • #2
    • 12th Aug 18, 2:44 PM
    Yes I think that's what they expect
    • jpandgd
    • By jpandgd 12th Aug 18, 2:50 PM
    • 3 Posts
    • 0 Thanks
    jpandgd
    • #3
    • 12th Aug 18, 2:50 PM
    • #3
    • 12th Aug 18, 2:50 PM
    even if they cant find us tenants?
    • Cakeguts
    • By Cakeguts 12th Aug 18, 3:09 PM
    • 5,344 Posts
    • 8,143 Thanks
    Cakeguts
    • #4
    • 12th Aug 18, 3:09 PM
    • #4
    • 12th Aug 18, 3:09 PM
    No agent can force someone to rent a house that is much more expensive than any others or which is not suitable as a rental property.


    Ask the agents why no one is interested in it. You may not be able to cover your mortgage payments with the rent. Not all properties make good rental properties so some of them have to be let on cheap rents.
    • macman
    • By macman 12th Aug 18, 3:16 PM
    • 42,803 Posts
    • 18,046 Thanks
    macman
    • #5
    • 12th Aug 18, 3:16 PM
    • #5
    • 12th Aug 18, 3:16 PM
    How long is the contract for?
    No free lunch, and no free laptop
    • parkrunner
    • By parkrunner 12th Aug 18, 3:34 PM
    • 1,615 Posts
    • 2,594 Thanks
    parkrunner
    • #6
    • 12th Aug 18, 3:34 PM
    • #6
    • 12th Aug 18, 3:34 PM
    How did you find the interested person?
    • G_M
    • By G_M 12th Aug 18, 7:13 PM
    • 46,222 Posts
    • 55,983 Thanks
    G_M
    • #7
    • 12th Aug 18, 7:13 PM
    • #7
    • 12th Aug 18, 7:13 PM
    I'd love to be in court on the day the agent tried to enforce that clause.


    See also


    * Letting agents: how should a landlord select or sack?
    • saajan_12
    • By saajan_12 13th Aug 18, 10:19 AM
    • 1,528 Posts
    • 1,135 Thanks
    saajan_12
    • #8
    • 13th Aug 18, 10:19 AM
    • #8
    • 13th Aug 18, 10:19 AM
    ' if you terminate this agreement, a termination fee equivalent to three months rent will be payable by you, and any outstanding element of the service charge or other monies due to us under the terms of the agreement must be paid bu you prior to the termination'
    Originally posted by jpandgd
    That sounds like the usual termination fee for when they have found a tenant and you want to self manage and stop paying ongoing commission. If you formally terminate that clause would kick in, there may be another way out. Please quote the agreement in full (redacting names etc), in particular anything about when commission is due. Depending on the wording commission may not be due on a tenatn they don't find, and if they don't have exclusive rights to find a tenant, you may simply be able to get your person in and refuse any of their suggestions.
    Quote the agreement to be sure!
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