How to exit estate agent contract?!

My 2 year full management contract with estate agent is coming up for renewal. The tenant wants to extend but estate agent will charge 12% for any renewals. I am happy to manage the letting myself going foward, what’s the best manage to contract with the tenant without involving the agent?

Thanks in Advance.

It depends what your contract with the agent says. Just because the tenant’s contract is ending, it doesn’t mean your contract with the agent will end.

Some agents have ‘as long as a tenant introduced by us remains’ provisions, which means you can’t get rid of them (unless you can negotiate your way out).

Some have exit fee provisions (eg pay us £600 to go away, or X months’ rent).

Some might just have notice to be given.

So, you will have to go back to the contract you originally signed with the agent and see what it says.

Hi Cath2,
Many thanks for your inputs on this matter, sincerely appreciate this. I have reviewed the contract with the agent and it mentions the below-
‘Renewal fees are payable for all services including Let Only whether or not the Company assists the Landlord with any continuation or renewal of the Tenancy’.
The contract with both the tenant and the agent is coming up for renewal.
Am I liable to pay fee if I do not renew with the agent and go with a rolling contract with the tenant?

It does sound as if you will need to pay the agent as long as the tenancy continues, but it’s difficult to know for sure without reviewing your contract with the agent. Is there a section on your contract about how to terminate it? As @Cath2 mentions, there are usually provisions or a notice period.