Letting Agency not paying guaranteed rent
For one of my rental properties that is let on a fully managed basis and that has a guaranteed rent promise until March 29, the letting agent are now 6 months behind with the rental payments. Three years guaranteed rent was part of the deal offered when I purchased that property.
I am aware that as they are in breach of contract I can inform the current tenant that no further payments should be made to the current letting agent and I will transfer management to another letting agent, but this won't address the rental payments that are still outstanding .
Would I be correct in thinking that my only recourse to get the outstanding money back would be take the current letting agency to the small claims court for the amount outstanding?
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