Relocation Tenants

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  • Relocation Tenants

    Large UK Agents including International Agents are advertising on their websites about Tenants Relocation & Corporate Tenants.

    In reality how many Tenants like this are circulating on the market ?

    I would like to hear your opinion.

  • #2
    As an exemplar, do give us yours first, 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...

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    • #3
      Reminds me of those letters you get from estate agents saying they have a disappointed buyer for a property in your street, and can they take you on as a client? Of course, any time you accept, the buyer evaporates.

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      • #4
        Hi Theartfullodger,

        Few links as example:
        https://www.cadogantate.com/en/movin...pat-relocation
        http://www.savills.com/promotions/gl...601.1497853639
        https://www.hamptons.co.uk/landlords...tons-lettings/
        http://www.knightfrank.co.uk/letting...ocation-agents
        https://www.foxtons.co.uk/corporate/
        https://www.kfh.co.uk/kfh-services/c...tion-services/

        My wonder is that, all those large/ international Agents have any relocation TTs for real or is just bluffing !?

        Anybody has any experience about relocation TTs to share. Many Thanks.

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        • #5
          Well, I check a fair few in and out on a regular basis for a large agency and a couple of ReLo's

          The agency has quite a few on very short and short contracts and some who have 2+ year secondments. They probably make up about 20% of my work for them!

          Does that help?!

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          • #6
            Tenants via relo agents can be great tenants but very demanding at the same time. In my neck of the woods individuals do not use relocation agents but companies who are seeking accommodation for an employee do. The company have employed a relocation agent purely to find an employee a place to live so that tells you that they rate that employee highly and so are likely to be paying that person a decent enough salary. When a suitable place is found expect the relocation agent to try to justify their fee either by by chipping away at the price or by coming up with a list of requirements as long as your arm. Sometimes companies take a contract in their name and let the employee live there and sometimes the employee takes the tenancy in their own name. Often when it is a company let the relo agent will provide the contract which may include a tenant only break clause and a tenant only option to renew so watch out for both of those. In fairness every time I have dealt with relo agents they are very clear and flag up at the start what their offer is and the terms on which it is made so there are no nasty surprises waiting to catch out the unwary.
            I suspect if you are talking high end property either in central London or somewhere like the Wentworth Estate things may be different but although lots of agents like to nurture relationships with relo agents, the reality is they very rarely have an ongoing demand for property in one area and, like anyone else, will often start their search on the property portals like a regular applicant would.

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            • #7
              a lot less since brexit announced

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