Can I transfer to a new letting agent?

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    Can I transfer to a new letting agent?

    I've been with my current letting agent about 18 months. From my side, the sense of trust with them has broken down to near zero, and I view them as parasitical. I'd like to move to a different agent.

    I have a tenant who I am very happy with, and they are on a rolling contract. My question is- how easy would it be to transfer at this point?

    The one thing that my current agent has in their favour is that they are fifteen minutes walk away. The letting agent I prefer would be two bus journeys away from the property- probably around 75 minutes travel. In a car maybe twenty minutes. This is no problem for me, but I don't want it to be troublesome for my tenant. However, I trust this agent, and feel that the relationship is good from the start.

    Thanks for reading

    #2
    What does the agreement, contract or terms offered at the start of your relationship say about you firing them please?
    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


      #3
      If you're not happy with your agent, always speak to them first, explaining why you're dissatisfied.

      However, if you do wish to change to another agency, you should check the terms of your agreement to see if this is possible.

      If it is possible, you may still have to pay some charges to the estate agent to cover costs, such as advertising, that the agent may have incurred.

      Either:

      1. You let them know you're taking back your property, and take it back
      2. You wait till you contract is over and never renew, that's if you are unable to take back your property early
      3. You pay a fee (if stated) for early termination of contract

      Comment


        #4
        Don't underestimate how difficult the transfer can be.
        You're not only ending a business relationship, you're transferring that relationship (and income) to a competitor.

        There are likely to be issues with the deposit and tenancy agreement that need to be sorted out.
        The condition report is often contentious, because its ownership is never clear.
        The current agent is probably the only person who could attest that all the things that should have been done at the start of the tenancy were actually done, if things go pear shaped or you decide to end the tenancy for some reason.

        Letting agents are usually experienced in landlords who wish to leave them because they've done all the initial hard work and are now simply taking income from the tenancy, so their contracts are usually quite difficult to extract one's self from.
        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
          Check the termination clauses. It may cost you a fair bit and take 3+ months before you can leave.

          I take properties from other agents on a regular basis due to poor service and trust breakdown, the loosing agent can be very obstructive.

          Once you have determined if leaving is for you then follow the process if it applies to you. Should you experience the loosing agent being difficult then contact the redress scheme they are a member of (assuming they are). The redress scheme will assist you and award any compensation which may be due.
          James Lindsey

          Liverpool

          Comment


            #6
            Thanks for all your replies. I have a much better understanding of the procedure now. Overall, the relationship has not gotten so bad that I want to go through the turmoil, financial and otherwise, of moving to another agency. My house is in an area where there is a transient population, so I could feasibly wait until the current tenant moves. Obviously I'd prefer otherwise, but I can wait it out.

            Really appreciate the help.

            Originally posted by theartfullodger View Post
            What does the agreement, contract or terms offered at the start of your relationship say about you firing them please?
            What is probably the standard stuff. I can end the contract if they act unlawfully or break any of the terms.

            Comment


              #7
              What is this "standard stuff" and where is it documented, please?? Agreements with agents in my 'umble experience ain;t "standard", unlike, say, the basic wording of a PRT tenancy in Scotland where the wording is fixed.
              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

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