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Property Mentor Investment Questions
The following question was recently submitted to our property experts by an individual looking for advice on how to deal with their property let. If you have got a question regarding your tenancy/property, contact us now via the link to the right.
Submit your own questionsQ: Changing Property Agents
How do I go about changing my property agent? They have been complete cowboys from the beginning i.e. never paying rent on time, lying, withholding deposits, and I am fed up. I would still like to keep my tenant though...
A:
Before you do anything I recommend taking a look at your agency agreement as it sounds as though they are in breach of your agreement. Check this first, and if they are you should legally be entitled to end your agency agreement with them.
Now, if you do this you will need to inform your tenants that your agents are no longer involved and that in the future they should pay their rent directly to you. It is important that you do this, so there is no confusion at a later date over missing rent (fail to inform them and your tenant could continue paying your property agent).
Once this is sorted you will need to extract your rent and the tenant deposit from your property agent, which could get tricky if they refuse. Should this occur you may need to threaten or even issue legal proceedings against your property agent to reclaim this money - I recommend getting a solicitor if you plan to take action.
NOTE: During this entire process it is important that you keep written documentation of all your correspondance as this will act as evidence that you have done everything by the book
More about the author
Matthew Lauchlan, Property Mentor Director
I have been investing since 1984, and from the good of the 1980's to the lows of the 1990's, I thought I had seen it all, but the course proved otherwise. I first heard about it from a group of friends. They had been on the course the year before... Read more
To see a full list of our writers and find out more about them please visit the authors page.
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