Letting Agents Check Those Letting Agencies Contracts Carefully
Lots of estate agents are now busy telling people they will do a HIP for you for free. However, as Elaine Moore points out in last Saturday’s ever informative FT, there is a big catch.
She says, “If you are selling a house where the estate agent provides you with a Hip, it belongs to them - not to you.”
So, if you later to to sell it with another agent, or take it off the market completely you’ll probably be hit with a pulling out fee.
As I have said before, you need to carefully check all clauses in any contract you sign with agents – be they letting agents or estate agents.
If I had a pound for every landlord who suddenly finds to his surprise that 6 months down the line his letting agent wants a fee because the tenant has renewed, I would be a richer man. (If the original tenancy contract is just renewed, there should be little if anything for the agent to do – and certainly nothing that justifies a 5% or higher fee.)
Back to main site; www.lettingfocus.com
The link to the full text of the FT’s article is here: http://www.ft.com/cms/s/55ae3f74-fa2f-11db-8bd0-000b5df10621.html
AT OUR WEBSITE LETTINGFOCUS.COM:
At LettingFocus we give independent advice to landlords and property investors.
We also provide consultancy to banks, property websites and public sector bodies, helping them with their buy to let and landlord facing products.
THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
ONE TO ONE PRIVATE CONSULTANCY click here: Property Mentoring
NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors:
Next Property Investment Seminar and Networking Event
We have OFFERS on a range of services and products for landlords too; click here including landlords insurance, tenant referencing, tenancy agreements and more: Services and Products for Landlords
For general info on our SEMINARS AND CONSULTING including corporate consulting click here: Property Seminars, Networking Evenings and Consulting
TO READ CLIENT TESTIMONIALS – both commercial and private click here: Testimonials
BUY “SUCCESSFUL PROPERTY LETTING” click here: Buy the Book at Amazon plus anything else you fancy at Amazon.co.uk
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to david@LettingFocus.com - Please note we WILL NOT send spam or sell our mailing list to advertisers!
IF YOU HAVE A SITE WHY NOT LINK TO THIS BLOG OR TO OUR WEBSITE?
IF YOU SELL SERVICES TO LANDLORDS, YOU COULD BE A PARTNER ON OUR AFFILIATE PROGRAMME. PLEASE GET IN TOUCH!
See our Twitter page: http://twitter.com/LettingFocus
Copyright: David Lawrenson 2007.
She says, “If you are selling a house where the estate agent provides you with a Hip, it belongs to them - not to you.”
So, if you later to to sell it with another agent, or take it off the market completely you’ll probably be hit with a pulling out fee.
As I have said before, you need to carefully check all clauses in any contract you sign with agents – be they letting agents or estate agents.
If I had a pound for every landlord who suddenly finds to his surprise that 6 months down the line his letting agent wants a fee because the tenant has renewed, I would be a richer man. (If the original tenancy contract is just renewed, there should be little if anything for the agent to do – and certainly nothing that justifies a 5% or higher fee.)
Back to main site; www.lettingfocus.com
The link to the full text of the FT’s article is here: http://www.ft.com/cms/s/55ae3f74-fa2f-11db-8bd0-000b5df10621.html
AT OUR WEBSITE LETTINGFOCUS.COM:
At LettingFocus we give independent advice to landlords and property investors.
We also provide consultancy to banks, property websites and public sector bodies, helping them with their buy to let and landlord facing products.
THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
ONE TO ONE PRIVATE CONSULTANCY click here: Property Mentoring
NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors:
Next Property Investment Seminar and Networking Event
We have OFFERS on a range of services and products for landlords too; click here including landlords insurance, tenant referencing, tenancy agreements and more: Services and Products for Landlords
For general info on our SEMINARS AND CONSULTING including corporate consulting click here: Property Seminars, Networking Evenings and Consulting
TO READ CLIENT TESTIMONIALS – both commercial and private click here: Testimonials
BUY “SUCCESSFUL PROPERTY LETTING” click here: Buy the Book at Amazon plus anything else you fancy at Amazon.co.uk
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to david@LettingFocus.com - Please note we WILL NOT send spam or sell our mailing list to advertisers!
IF YOU HAVE A SITE WHY NOT LINK TO THIS BLOG OR TO OUR WEBSITE?
IF YOU SELL SERVICES TO LANDLORDS, YOU COULD BE A PARTNER ON OUR AFFILIATE PROGRAMME. PLEASE GET IN TOUCH!
See our Twitter page: http://twitter.com/LettingFocus
Copyright: David Lawrenson 2007.
Labels: HIPS, letting agency, letting agency fees, letting renewal fees, renewal fees
This entry was posted by lettingfocus, on
Tuesday, May 08, 2007.
