Query re Letting Agent Fees when an AST becomes Periodic
*** Not sure if this was sent to you just now ***
I instructed a well-respected and established property letting agent to find tenants for a one bedroomed flat, and joint tenants (a couple in a long term relationship) moved in on 14 February 2012.
The letting agent charged me a fee of 5% + VAT to use their 'Tenant Find' Service, which included the following reference :
'We also confirm that you have agreed to use our Tenant Find Service at the special rate of 5% of the total rent collected for the term of the tenancy plus VAT'
When the couple moved in, they signed a 12-month AST, which ends on 13 February 2013.
Unfortunately over the Christmas period the couple split up, and one of them moved out of the flat, leaving the sole remaining tenant to cover the rent on his own.
He seems perfectly willing and able to pay the rent on his own, and I am more than happy for him to stay as he is a good tenant.
My question is this; as the tenancy agreement is no longer with both tenants, and becomes periodic with the remaining tenant, do I have to pay any more fees to the letting agent ?
Any advice would be greatly received, and if I have to pay additional fees to the letting agent, Iím more than happy to do so, but as I fully manage all aspects of the tenancy including having lodged the deposit with the DPS at the start of the AST, it seems a bit rich that the letting agent, who has done ABSOLUTELY NOTHING other than find the tenants at the start of the AST now wants 5% + VAT of all further rent paid to me under the periodic tenancy agreement that starts on 14 February 2013.
Many thanks for your assistance.
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.