Can I fire my letting agent?

Most letting agreements between the landlord and letting agent have a termination clause. The clause generally will stipulate a notice period, where anyone of the parties can terminate the contract. Letting agents, generally, work hard and their fees are worth the work they do.

Do you have to pay letting agent renewal fee?

Letting agent renewal fees for tenancy agreements historically have never been popular with tenants or landlords particularly since some less reputable agents in the lettings industry will charge a fee to both the tenant and the landlord. Letting agent renewal fees are illegal in Scotland It is illegal for letting agents to charge renewal fees […]

What to do if you get bad deal from letting agent?

Anyone who feels they get a poor deal from their letting agent will then be able to take their complaint to the redress scheme, and could receive compensation. This has been a legal requirement since 1 October 2014. Letting agent redress schemes can help you solve a dispute between landlords and their letting agents.

How to renew a tenancy agreement the right way?

1) Create a new tenancy agreement and add the new terms and conditions in there (this will create a new fixed term tenancy). 2) If the only change is a rent increase, you can serve a rent increase notice and the new tenancy can roll into a periodic tenancy. 3) Create a separate counterpart document that contains the new terms.

Is it worth having a professional letting agent?

Landlords should also bear in mind that with increasingly complex regulations around the management of lettings, a good professional agent is “worth his or her weight in gold” when it comes to making sure the letting is compliant with the law.

How to avoid letting agent renewal fees for landlords?

There are three other ways you can stop paying letting agent renewal fees as a landlord: Choose a letting agent that doesn’t charge a tenancy renewal fee. Although the majority do charge a fee, not all letting agents do, but I’ve found these agents generally charge a larger “set up fee” so often you pay more in the first year.

How much does it cost to renew a letting agent with Winkworth?

Winkworth currently advertises a 9.6% fee for the 1st renewal and 8.4% for the 2nd (what a generous reduction!). From my experience, this has meant paying over one month’s rent every time a tenant has renewed. This translates into serious erosion of your profits. Needless to say, these letting agent fees for landlords are extremely unpopular.