Advice when changing over to L agency from a private landlords umbrella.
Hello to colleagues that have experience of this sort of transition. Which goes something like this;
For years I've fully managed several relative's rental portfolio's. In 2017 I gave notice that I'd be looking to hand back the oversight to 4 of the owners before the end of 2019. Just 2 remain. These owners wish to hand them over to a Letting Agent. The contracts 'rolled- over' back in 2015. I presume that a Lagt would not wish to take on a 'rolled-over' contract, preferring to offer - & then charge for their OWN version of an AST.
The owners HOWEVER do wish to keep their very comprehensive, all- singing, all- dancing AST's as their tnts are long-term renters & like the all-encompassing comfort of their familiar AST model.
I'm doubtful that these AST's will be readily adopted by the Lagt, or if they would want to start from scratch, with a more manageable [if turgid], generic version. Advice please. Also will the Agent insist on the LL's closing down these AST's with 2 months notice period to 1] excise my details & 2] to begin afresh with the Agents details inserted plus establish their 'take it,or leave it' method of monitoring their AST's.
The 'family let' houses are close so hopefully one Agent will win all the work. This sort of transition is new to me so I can't provide much useful guidance. Two relatives are forced by circumstances of poor health to engage a L.agt. Yes, you guessed I'm trying to ease my conscience by helping them negotiate the best deal possible whilst keeping their tenants from worrying they are being sold down the river! Nothing lasts for ever! The tenants when the transition was broached - indicated they expect the same gold standard of service outlined in the current AST. I'm not holding my breath...given the Hammer Horror stories posted about L.agts on the Forum.
How have colleagues navigated a Segway from the umbrella of a diligent PSL into the hands of the ubiquitous anonymous L.agt? Is it they would insist on TOTALLY new documentation & the LL bringing to an end [with due notice] the current AST?
Out with the old, on with the new- type of thing seems a sensible approach to me?
Pointers gratefully received about expected protocols.
Want to read more?
This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.