Cost Of Renewing A Tenancy Agreement

If the rent renewal tax is not included in the contract or if it is clearly stated in the contract, it is unlikely that they will be able to legally assert the tax if you contest it. Ray I think I would have used the wrong wording. I was referring to the lease, yes. I defend the feeling I wanted to express. If the owner uses an agent to manage the property, the agent is actually acting more or less as the owner on behalf of the owner. The lease may be in the name between the tenant and the landlord, but the agent is the intermediary and often the agents are the only interlocutor for a tenant who wants to discuss business with the landlord. I even had agents trying to block contact between me and the owner when I was unhappy with the agent`s behavior and wanted to inform the owner. There would probably be a clause in the lease agreement that the agent created for the landlord, and there would probably be something along the kind of “tenant agrees to pay all necessary fees. Fees are refunded in case of non-payment by the deposit or something similar.

. etc.” It doesn`t matter how much the whole thing is set up to benefit the agent in all of this, but they can and will exert some power over the tenant as long as the landlord continues to use them and follow what they offer. But this time, my rental agency tells me that I can not extend by amendment and sent me to sign a brand new lease. There has been an increase in rent, and I am renewing for another year. The amount of the rent and the update of the date are the only clauses that I have accepted to update them. Fortunately, none of the terms of the existing lease need to change, so I am glad that the lease is becoming periodic and that, as a result, additional administrator work is avoided. We have just received an invoice from a real estate agent, Morgan Randall, for the VAT extension tax of X% + for a rental agreement that has passed to the period. We agreed with the tenants to ride every month when the original lease was over and they wanted to stay for an additional 2 months, for which we paid the fee to the agent.

Due to COVID, Tetants cannot leave Britain (they are foreigners), so we let them stay as long as they want, provided they give us a month in advance. The agent, without renewing the lease or documenting anything, decided to send us an invoice. Ant this is your e-mail: We have discussed this with the landlord and he is delighted that the lease is periodic. For example, they would charge £200 to a landlord to renew the lease, but they would also charge £200 to the tenant. Of course, many agents have not been transparent about the double-sided wave that has occurred. My roommates and I extended the lease for another year last September. Last November, the owner decided to change agencies because she was not satisfied with the previous one. Now we have the new lease and the agency wants us to pay £120 per person administrative fee. “A reader of my blog, where I give owner advice, contacted me recently with a question I see too often right now. For the past four years, she had rented an apartment to a tenant found by a major London rental agency. The landlord managed the lease herself.

Hello, my LA is trying to charge me 8% commission on the annual rent (almost £2700!) because they said it was T&C in the contract I signed for Let Only. Thank God, because of their disorganization, I have never signed such a contract. And the Agency never discussed this high renewal fee during my transition from Full Management to Let Only. Needless to say, I would never have signed such a contract and would have signed my life for £2700 a year! I even have emails in which I ask for specific information about rental fees only and the Agency in its response only mentioned 8% of the annual rent and never referred to the renewal tax (on which I would never have accepted).