I’ve been renting my property out for just over a year but now need to move back into it. I‘m under a 3 year guaranteed rent scheme and therefore need to terminate the contract early. The agents have advised me the fee would be £7,600 for potential loss of profit because I have 20 months remaining on my landlords agreement. However when I contacted the agents last year to ask if the tenants had renewed their contract I was advised they were on a rolling month contract. I’ve looked through the agents agreement regarding giving notice and the loss of profit fee seems to apply to the term date of the tenants agreement not the landlords.
Has anyone come across this before?