Hello All, I am new to online lettings. I want to switch from my current letting agency to open rent for the same tenant. Is it something which can be easily done ? Current tenant has around two month of contract left for a renewal, letting agency’s the management fee is comparably high.I like to cutdown the cost.Please send me the instructions, how to switch smoothly. Thank you
your agent may have you stitched up in a contract for as long as the existing tenant is there Check your agreement/contract with the agent. . Let the tenant go periodic, no need for a new contract , which no doubt the agent will want to “sell” to you
1 Like
My guess is allowing contracts to run in perpetuity is probably a breach of the consumer trading act ( just as annual fees were).
Maybe worth speaking to n r l a to see if they will help legally or trading standards ( but they likely won’t have resources) as it was OFT that beat Foxtons for landlord fees in perpetuity
Be aware, if you transfer to open rent, your tenant will need to pay the holding deposit, the security deposit, and first months rent to open rent.
You will need to plan with your tenant, how this is achieved, especially if they already have a separate security deposit paid to your agent.
Openrents platform is designed for finding and signing up new tenants. It can be used to transfer existing tenants, but is a little complicated & requires planning & agreement with your tenant.