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Estate agent 2nd year finders fee

Started by Janice, January 13, 2025, 04:22:41 PM

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Janice

Hi,
We found tenants for one of our properties last year through an estate agent and paid them a 6% fee of the yearly rent, plus tenancy checking fee of £495 plus some other charges.  We were always present during viewings and the AST belongs to us.
This year as the tenants will be staying they want another 6% of the yearly rent!  As we can no long have an AST but it is annual monthly periodic agreement do I still have to pay them this high fee?
Renewal due at the beginning of March 2025. Help really appreciated. 

jpkeates

A monthly periodic tenancy is still an AST.
What you have to pay them will depend on the contract that you signed with them.

But, generally speaking, they can't charge you for services that they don't actually provide. So, any term that says that there's a fee for something that doesn't have any work associated with it, is likely to be unfair.

Janice

Quote from: jpkeates on January 13, 2025, 04:49:17 PMA monthly periodic tenancy is still an AST.
What you have to pay them will depend on the contract that you signed with them.

But, generally speaking, they can't charge you for services that they don't actually provide. So, any term that says that there's a fee for something that doesn't have any work associated with it, is likely to be unfair.

Thank you