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New Landlords please help regarding sourcing new tenants

Started by Susan D, October 25, 2017, 10:04:53 AM

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Susan D

Hello, we are new landlords who have instructed a letting agency to find us tenants. 3 weeks on we have not got any. We advertised the property on gumtree and have already within a couple hours lined up 3 viewings. If we found our own tenants would we still have to pay the one off fee to the agency ? Any help with this would be appreciated. Thanks

Hippogriff

You need to understand the Terms of Business you have signed with the Agent you employed. It's no point asking us what that agreement might say, we cannot see it. Common sense says you should not pay someone for a service they didn't perform for you... however, the documents Agent put in front of Landlords are sometimes not full of common sense, but seek to advantage them in every scenario. Start by reviewing what you signed.

Susan D

Thanks for your reply. I have read the agreement that does not mention what would happen should we source our own tenants. It says we must give two months notice, but I presume that's more for managed agreements . Like you rightly stated , common sense does suggest if they don't deliver then they won't get paid .

Riptide

When selling, an estate agents terms of business maybe 'sole selling rights'.  This means the property sells during the time they are marketing it regardless of where that sale comes from (could even be a relation) that they will be due their fee.  Look in your contract for similar wording.