UK Landlord Forum / Life

We are very reluctant part time landlords with one property. We have been with the same management company since we acquired the property  in 2012 and think we can not change as the property is selectively licensed with the local authority with a non-transferable licence which has only six months left to run.
I have found our original contract which states the fees are for full management 2 weeks rent for tenant finding and 10%  plus VAT monthly which is I think fairly average. Over the years, however, there just seems to be a huge creep up with the fees with many now being not related to the small rent (£200 pcm) which they have managed to get for the house for example the tenant finding fee is now £399 plus VAT.
Now they have told me there is a minimum monthly charge of £40 and have taken it twice this month as my tenant paid in two lots (he is on universal credit and has difficulty paying). In no cases have I been advised of changes in the terms and conditions before being presented with bills though I have a vague memory of some general email several years ago (which despite searching for I can not find). My contract says they need to give me 28 days notice in writing of changes.
It has got to a point were I'm resigned that I'm helping provide someone with a roof over their head who needs it but I really resent the high proportion (around 50% in a typical year without insurance or gas safety or repairs) which goes to the company and would like to know if this is typical and what my options for negotiation with the company are? This is especially as I can only expect that the fees which presently the tenants pay (there is an extra £250 tenant application fee as well as my finding fee) and they won't be able to charge come June will have to come from somewhere (from me seems likely).
Their landlord fees are not on their website and I don't know if a general email once every few years (if indeed they sent something at all) is enough to be considered that I have consented to the fees.
The people on the phone are mostly helpful but I have to remind them about things like gas certificates several times before it is done and they have a fairly high staff turnover.  Sorry for the rant, we did consider selling and will do at the drop of a hat when the current tenant leaves in the meantime it seems to be grin and bear it,  I just don't like the feeling of exploitation and have to laugh sardonically at anything that refers to fat cat landlords!

You did not say what your location relative to the property is.

If it is not a huge distance, why not manage the property yourself.

The only thing an Agent might be good for is attracting new tenants, but there would have to be a very good reason why you would hand over the reins for the ongoing management.

I just wondered what they are.

You are not new landlords and seem pretty savvy with what your responsibilities would be.

If you live in another country or something then fine, but at if you do have to stick with an agent I would at least terminate the existing contract and shop around for another.

Thanks for taking the time to reply, I would like to be able to manage the property myself but am a few hundred miles away and also have six children and a sick husband so really don't have the time!
I suspect that the agent is necessary for now but just want to know if there are any bargaining points I might be able to use with them, eg lack of transparency with fees but I also want to keep them on my side so they bother with the property which is only one street from their office (hence them as a choice of agent)
I can't change agent as my tenants have just resigned for six months and my contract says I am liable for their fee in this case for the period of the fixed term. There is also the matter of the selective licence which is granted to me AND them as licence holders and is non transferable according to the council which seems a pretty unfair term as is just means we have to stay with the agency whatever they do unless we want to re-apply for the licence and pay another £450.
Has any one else come across licences like this and what would happen if the relationship with the agent broke down ?

Have I misunderstood-is the rent you are getting just £200 pm? Assume this is a typo? If not,is it worth continuing renting out all ?

no it is NOT a typo! and I know it is not worth it but when we first got it rents were about £380 pcm then the whole area was subject to a block repair scheme and all the empty properties became habitable due to 75% grants from the council and rents plumated.
£200 is an increase on last years £190! 
I will be able to sell it when the council no longer needs its 75% back. I'm just waiting out this tenancy and also hoping there won't be a similar glut of other landlords trying to sell.
All the properties for rent nearby are now on much higher rents even from the same agent but they say that is all I can get when I suggest it goes up but as I say their fees are now no longer linked to the rents so there is no point them pushing it for me.
It does need redecorating and new carpets etc. but with the economics I just want to tick over and get out!
If I was nearby and able to self manage and repair then it could be a better proposition. Or if my management fees were only 10%!

God,what an awful situation.What are the penalties if you change agents at the end of the current AST,assuming you still have the same tenant wanting to stay on?

Thanks so much for your support. I really don't want to be a "slum" landlord but the economics mean I am.
it is difficult but I don't actually need to make a profit at the moment so can just be patient and I've challenged the agent taking two lots of management this month so hopefully will get £48 back which may mean no loss this tax year such is the slenderness of the margin!
I'm viewing it as my charity donation instead of giving to a homeless charity I'm housing someone who can't afford a house any other way.
Thank you again for your sympathy, it makes me feel better even if the situation is a nightmare!