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    New Landlord

    Hello
    I am renting my flat for the first time so would like some advice. An estate agent has found me a couple she is pregnant and will have the baby later this year. EA is pushing this one because they want their referral fee which will equates to 10% of 18 months rent. They also said the tenants would have to stay the term if i did not put a break clause in - tenants want to stay for 18 months. I asked how they would afford the rent on one salary and was told she would receive maternity pay and go back to work after 4 months.

    Are AST valid for 18 months or should i renew contract every 6 months? Is there any advantage? Is there anywhere i can get some help drawing up AST and making sure i have all the correct clauses in it? EA said because she was not holding deposit she could not issue tenancy agreement. Is this normal? Is there anywhere i can get some help drawing up AST and making sure i have all the correct clauses in it?

    #2
    Originally posted by sheri1000 View Post
    EA said because she was not holding deposit she could not issue tenancy agreement.
    Eh?? That's a new one on me.
    Now signature free.

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      #3
      so would you expect as part of the EA service they would also issue the tenancy agreement? Is this an additional charge?

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        #4
        For a 'find tenant' only agreement we would charge you £200, this would include finding a tenant, escorting viewings, drawing up all agreements, inventory etc. The whole lot.
        We wouldn't charge 10% of the 18 months rent and I think this is deplorable.

        You don't need to do a AST for 18 months, why not just issue a 6 months one and renew it when it runs out or let it run into a periodic. At least in this case if you have signed any agreement with the EA then you'd only have to pay them 10% of the 6 months rather than the 18.
        Double check your agreement with the EA aswell because some will charge you in 6 months to renew the AST with the Tenant (another rip off if you ask me)
        Sounds like they are charging you not only for finding tenant but a management charge aswell. For this i'd expect them to do a whole lot more than they are offering.
        Ambition is Critical

        I don't profess to be a knowledge in all areas, my advice is based on life experience.

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          #5
          Originally posted by J4L View Post
          For a 'find tenant' only agreement we would charge you £200, this would include finding a tenant, escorting viewings, drawing up all agreements, inventory etc. The whole lot.
          We wouldn't charge 10% of the 18 months rent and I think this is deplorable.

          You don't need to do a AST for 18 months, why not just issue a 6 months one and renew it when it runs out or let it run into a periodic. At least in this case if you have signed any agreement with the EA then you'd only have to pay them 10% of the 6 months rather than the 18.
          Double check your agreement with the EA aswell because some will charge you in 6 months to renew the AST with the Tenant (another rip off if you ask me)
          Sounds like they are charging you not only for finding tenant but a management charge aswell. For this i'd expect them to do a whole lot more than they are offering.

          I havent signed anything with the EA. But i have checked and it is better to have tenancy for 6 months not 18 months. I have told them i wont be paying equivalent to the 18 months rent upfront and to top it all they want to keep the tenancy deposit or are refusing to write the agreement. I did not realise how expensive EA were until now

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            #6
            I would not touch this Agent with a barge pole.. walk away NOW or you could have major issues in the future! ... Are they registered with ARLA or NAEA?? IF so I would report them! They want to hold your deposit to ransom.. Have you seen the credit checks on these tenants they are so desperate to tie you in with for so long??? I would have serious concerns over these people!
            GOVERNMENT HEALTH WARNING: I am a woman and am therefore prone to episodes of PMT... if you don't like what I have to say you can jolly well put it in your pipe and SMOKE IT!!

            Oh and on a serious note... I am NOT a Legal person and therefore anything I post could be complete and utter drivel... but its what I have learned in the University called Life!

            Comment


              #7
              Originally posted by justaboutsane View Post
              I would not touch this Agent with a barge pole.. walk away NOW or you could have major issues in the future! ... Are they registered with ARLA or NAEA?? IF so I would report them! They want to hold your deposit to ransom.. Have you seen the credit checks on these tenants they are so desperate to tie you in with for so long??? I would have serious concerns over these people!
              yes they are members of ARLA. they are not the first agent either to want to hold the deposit. many of them seem totally ignorant that the landlord can also protect the deposit in an insurance based scheme. They are chasing references today and credit checks and said they will send me the details. the couple are expecting a baby and i think they have asked for 18 months but this is obviously too long. would this mean i could not get rid of them even if they defaulted on the rent until the 18 months was up?

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