Directly approaching a tenant

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Directly approaching a tenant

    Hello
    I am about to rent my property for the second time but am having major problems with a letting agent (I got my fingers burned badly last time after the LA went bankrupt taking my money with them!) They are insisting that I use them as stakeholders in the TDS whilst I want to use one of the two insurance backed schemes to hold the deposit. I have seen my solicitors who have drawn up a clause to replace this particular section in the contract allowing me to use the insurance backed scheme, but they still are not happy with me altering their contract. I am in contact with the tenants who want to rent my property directly and understand that they have paid £300 and signed a letter of intent but nothing else at this stage. The LA told me today that the tenants are going to pull out if I do not use them as stakeholders after speaking with the tenants; I know this not to be true and they are more than happy to use this scheme as they are landlords of a separate property themselves and understand it completely. I want to know if I could approach the tenant to propose that they rent the property from me directly without the use of the letting agent despite the fact that they "found" the tenant? Any thoughts or advice as to whether this is legal and the best way to approach? Thank you.

    #2
    Originally posted by MrsNu View Post
    Hello
    I am about to rent my property for the second time but am having major problems with a letting agent (I got my fingers burned badly last time after the LA went bankrupt taking my money with them!)
    Make sure you use a regulated agent from ARLA, NAEA, or RICS for the simple reason that you would have been protected by insurance up to £5,000 had you used one last time. Unregulated agents are nearly all uninsured against bankruptcy.
    The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

    Comment


      #3
      Originally posted by Paul_f View Post
      Make sure you use a regulated agent from ARLA, NAEA, or RICS for the simple reason that you would have been protected by insurance up to £5,000 had you used one last time. Unregulated agents are nearly all uninsured against bankruptcy.
      Thanks for your reply Paul. The last agents were ARLA registered but the £5000 doesn't nearly cover the damages totaling £50,000 the tenants caused. Do you know if it would be possible to approach the tenants to let directly with contracts drawn up by solicitors or instruct an alternative letting agent at this point?

      Comment


        #4
        Originally posted by MrsNu View Post
        Thanks for your reply Paul. The last agents were ARLA registered but the £5000 doesn't nearly cover the damages totaling £50,000 the tenants caused. Do you know if it would be possible to approach the tenants to let directly with contracts drawn up by solicitors or instruct an alternative letting agent at this point?
        It's entirely up to you but please make sure that you contact ARLA and put in a claim for any rent or deposit they held (if it wasn't protected). At least you will get the chance of getting something back. £50,000 is a lot of damage but that won't be covered by ARLA's insurance. Was it full of luxury items?
        The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

        Comment

        Latest Activity

        Collapse

        Working...
        X