I rent out a property, coming up to renewal time with tenant nearing his 6 months. I have asked the letting agent to send out a letter asking him if he wants to renew or not.
They said they charge £125 per renewal, fair enough I say.
However they want the money upfront and charge irrespective of whether or not he actually renews. So assuming he doesn't renew they get their £125 and a months rent when they let it to a new tenant?
Is this the norm?
why not pop round and ask him?
Letting agents screw everyone over. Had no end of trouble communicating with my landlord through the letting agency (big, well known one). Eventually the landlord popped round to deliver a new appliance and we swapped numbers, it turns out they're wholely normal and perfectly nice people and a lot more willing to talk than the letting agent. That said, my letting agent doesnt charge for renewals and performs 2 monthly inspections, so I presume they're not cheap to the landlord.
I've alway just popped around and asked them and only use the letting agents to vet new tenants.
Plus you will want to have a visual inspection to check for any damage/work that needs doing.
I use 2 different ones in Edinburgh and I've never paid for that 'service'.
It could depend on whether they are providing a fully managed service (% of rent every month), or are just finding the tennant for you. If its the latter, then I would expect a charge for a renewal.
Bang out of order - even charging £125 for the renewal. WTF are they doing for that money?
It's the norm if you've got a rip-off letting agency.
With the one I use neither the tenant or me pay any of these made-up fees.
I'd phone around a bit, the difference in service quality and charges from agents just a few 100ft apart on the high street is amazing.
Our agents tried the same thing, wanting to charge us and the landlord about the same ammount to renew. So we just renewed directly with him.
Correct (someone) they do not manage the property, so imo it is fair enough that they charge. My problem is that they want it irrespective of whether the tenant renews?
RE: Renewing with him directly. Would I need to back this up with some kind of document? The reason for this is I am not up on what kind of documents/legalities are involved hence asking the agent to do it. Could anyone offer some guidance?
Would I need to back this up with some kind of document?
It sounds like the contract is between you and the tenant directly. So all you need to do is change the dates on a new copy of the lease document and get it signed/witnessed.
re0date the lease and when you all sign it you need a witness and thats about it.