Letting Agency Due Fee if Rent Not Paid

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  • doobrey
    replied
    Depends on the Agency Agreement. In my experience, though, the norm is commission on "rent due" rather than "rent collected", in which case the answer to the question is yes they do.

    To date I haven't (touch wood) had any rent defaults so it hasn't been an issue for me, but of agent's terms this would be the top of my list to object to. Agree that it does not provide the right incentives.

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  • jpucng62
    replied
    Mine doesn't. Gives them a reason to chase it!

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  • landlord-man
    started a topic Letting Agency Due Fee if Rent Not Paid

    Letting Agency Due Fee if Rent Not Paid

    I've not used a letting agency (LA) and don't see the need - but it got me thinking.........

    If a LL signs up with a LA for a Fully Managed Service at 10% of the Monthly Rent - what happens if no rent is paid?

    Does the LA still charge their 10% to the LL ?

    After all, the LA will be doing far more work chasing late rent etc.

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