Agency fees to pay, when you change an agency?

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    Agency fees to pay, when you change an agency?

    I have a property which now is managed by an agency. Since the agency management fees are not agreeable with each other, me and my agency, I am planning to change one( it's a brand new property so all I want to ask is to find a good tenant but they are asking for full management for price of a LOT) then, they sent me contracts, and says,
    WHEN changing an agency, I have to let them know minimum 3 months notice, PLUS have to pay £360 inc VAT to them, as a handling charge.
    IS THIS POSSIBLE?? I am almost getting nothing from that property after paying so much to this and that. And they say they choose good tenants compared to other tenants, and they insist to pay that percentages because if I pay less, then I get "not good" clients from "not good agents"
    How can on earth agents can keep landlords forever and what law? We are not in jail?
    Is this fees normal, or something they are only adding onto my contract,
    Honestly I am so sad to now that some people using some power to threaten clients by any way. (It's not even how you train people in sports, like martial arts, not to hurt anyone but to have a discipline)

    #2
    Read the contract that you have with your agent.

    See how much notice it says that you have to give them, and any fees that you have to pay when you want to leave them.

    Comment


      #3
      You're running a business.
      If one of your suppliers wants to do business with you on terms you are not happy with, either don't do business with them or negotiate terms.

      What you need to consider is how much your business is worth to the agency over (say) 18 months - which is the length of an average lease.
      They make a percentage of a property sale and want to make a comparable amount of money from a let.
      Using an agent is expensive.

      And yes, thats a fairly typical clause.
      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
        Yes I know it says there, but I just was wondering why it was so expensive everytime they charge us. Founder fee, renewal fees, terminate fees, but I do read them and now I see it there. Thanks.

        Comment


          #5
          I did negotiate but they didn't want to negotiate with me. But thank you for letting me know that it is a typical clause. That's all I wanted to know.

          Comment

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