Moving from Agents to Self Management

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    Moving from Agents to Self Management

    I have 3 properties let via agents on a fully managed basis and all 3 have good long term tenants in situ with AST tenancies

    However like many I am seeing my management costs rising and therefore looking to bring them into self management when the current AST terms come to an end.

    My question is how is best to go about this, I could ask the current agent to renew the AST (at a cost) on an unmanaged basis, or possibly approach the existing tenants directly and ask them to deal with me direct and give the agent notice that I am not renewing through them. The problem with the latter is the agent may tell the tenant to vacate?

    So my thoughts are to tell the agent approx 2 months in advance of the AST renewal that I will offer renewal to the tenants but only on an unmanaged basis. I will also contact the tenants direct and inform them of this, so they know they are not being moved on.

    I assume the agent has to transfer the deposits to me (my deposit scheme) along with copies of the credit checks, gas safety certificates, right to live checks etc.

    Finally do I need to register under GDPR or is handling the information in a professional manner with a written statement of how I am holding the data etc sufficient?

    Many thanks in advance

    Richard

    #2
    What does your contract with LA say? Not sure why you have to do it at the end of the ast? Yes, contact the tenants directly so they can contact you if LA tries anything.

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      #3
      Originally posted by RIchardRT View Post
      So my thoughts are to tell the agent approx 2 months in advance of the AST renewal that I will offer renewal to the tenants but only on an unmanaged basis. I will also contact the tenants direct and inform them of this, so they know they are not being moved on.

      I assume the agent has to transfer the deposits to me (my deposit scheme) along with copies of the credit checks, gas safety certificates, right to live checks etc.

      Finally do I need to register under GDPR or is handling the information in a professional manner with a written statement of how I am holding the data etc sufficient?
      I have never seen a letting agent agreement that would allow the transfer to self management without a notice period (or a probably illegal fee).

      The agent doesn't have to do any of those things if you stop doing business with them, you need to get this done before you cease having a working relationship with them.

      In theory, you should register with the ICO and be GDPR compliant. Last time I checked the ICO web site said that you don't need to register with them and most landlords haven't (I'd guess).

      While it's none of my business, I suspect that you are underestimating how complex this transfer to self management is going to be.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

      Comment


        #4
        You should take a course on landlord law.

        Agents tend to have clauses that give them trail commission on tenants they introduced even if they no longer do any work in relation to them.

        Tell the tenants to ignore section 21s from the agent; they agent cannot enforce them without your cooperation.

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