Letting Agent - Finders fee - New Tenants

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    Letting Agent - Finders fee - New Tenants

    Hello,
    New here so please forgive if I'm doing something wrong..

    We employed a Letting Agent to find us new tenants for a one off 'Finders Fee'...We shall then manage property ourselves.
    Letting Agent has found us new tenants - I'm due to meet and greet next week and hand over keys to people I know nothing about.
    We have asked for names and more details, contact numbers etc. before we hand over keys to a cherished house - We have been told owing to 'data protection' we cannot make contact & have the required information we seek.
    Surely we have the right to know who exactly we are about to entrust our house to prior to handing over keys?

    We will proceed as we also trust that relevant necessary checks are all made ...Just would like to know who these guys are prior to key hand over - Is this right?
    We cannot know anything about them (personal contact) prior to them actually signing contract?

    Any help/advice appreciated.
    Thank you.




    #2
    Once they've signed the contract, I can't see why you shouldn't be able to get their contact details. Maybe ask the agent to meet them before they sign.

    When I've used agents for 'find only' in the past (I use OpenRent now), I've been able to ask almost everything about new tenants without much trouble. It's perfectly normal to want to know what your tenants earn, do for a living, where they lived before, etc. It's all in the tenant report the agent should give you once they've moved in anyway.

    Maybe use OpenRent yourself next time and have more control over the process, deal with enquiries, meet the tenants on viewings, get to know them a little first, and ultimately, choose for yourself who your tenants will be.

    It's a lot easier than you imagine it to be, and at £49 for advertising and £20 per head for tenant checks, less than 20% of the cost.

    Comment


      #3
      Probably the agent's mate who has failed the tenant check...
      I used to do this but will never do so again after the last tenant they got me. I also use openrent and much prefer it because you get to check them yourself. Personally I wouldn't sign the contract unless they provide the information you require, it's you not them who will have the problem.

      Comment


        #4
        Do not let to the tenant.

        The agent is completely wrong in what they are doing.
        Everything they are saying is a huge red flag.

        An agent owes a duty of care to their customer, which is you.
        It is very easy for an agent to collect data from a prospective tenant on the basis its going to be shared with the landlord.
        I'm not 100% sure that's even necessary, but adding a consent form to their sign up form isn't terribly difficult even if it is.

        Not doing that is simply delinquent.
        Citing "data protection" is both lazy and a sign something is very wrong.

        Trying to conceal the identity of the tenant is beyond unprofessional, it's a warning

        Note that its possible that the agent can sign tenancy documents on your behalf (depending on what you have agreed) and I would explicitly instruct the agent not to give the tenant any tenancy agreement to sign and not to allow any tenancy to begin until you are happy with the tenant, the information they have gathered and that the tenant checking process has been properly completed.
        Do that in writing.

        Two obvious possibilities are that they are letting your property to someone who you wouldn't rent to.
        Or that they're letting it to themselves to sub-let at a higher rate.
        Either way, bin them.
        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


          #5
          As above, fire agent.

          With finder's fee there is absolutely no incentive on agent to find a tenant that will look after the place or pay the rent.

          An empty property is better than a bad tenant
          I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

          Comment


            #6
            Originally posted by BeccyP View Post
            Hello, I'm due to meet and greet next week and hand over keys to people I know nothing about.
            As stated by others your agent needs to be sacked, it will be a cold day in hell when i agree to let any of my properties without meeting the proposed tenants first. I use an agent to tenant find and on the whole it works just fine, i use the same agent so they know what i want and what i will accept so it runs easily, but i always attend at the first viewing and it is i who really interviews and decides if they get the place, i have rejected people in the past that the agent has given a green tick too !!! It is your biggest asset, i would give more care to who takes possession of it.

            Comment


              #7
              It is frequently said by experienced landlords that if an agent is only being paid to find a tenant and doesnt have to manage them, you are much less likely to be given their gold star applicants.

              Comment


                #8
                I use a tenant-find service from an agent and they always say "we have had this application; here is the information about them; are you happy to take them?"
                I also insist that I produce the tenancy agreement (so I have to know their details) and that I sign it, not the agent.

                If you get the rules sorted up front, then there is no reason you should get a bad tenant.
                If agent will not do what you want, the find another agent.

                Comment

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