Estate agent problems
Discussion
We have a flat which we rent out , its been handled by the same firm for the last 12 years (same tenant) so they have a pretty easy life.
The compnay changed hands earlier this year and since then they have been screwing up their invoicing to us not only that but we havent recieved the amounts to our bank that they have claimed to have sent.
We have been querying invoices right back to Feb asking for breakdowns of charges they keep making but still no adequate response
Whats the best next step???
The compnay changed hands earlier this year and since then they have been screwing up their invoicing to us not only that but we havent recieved the amounts to our bank that they have claimed to have sent.
We have been querying invoices right back to Feb asking for breakdowns of charges they keep making but still no adequate response
Whats the best next step???
If they claim to have sent you money then I am sure you could ask the estate agent for proof, such as a copy of a bank statement showing the transfer to you.
Claim that you believe them and you are worried your bank has lost the money (since that is the only reasonable explanation for what they are claiming).
Make sure you write down the details (time, date, person spoken with) in case you have to go to the small claims court to get the money back.
Obviously, they are total c@nts who are ripping you off, but you want to try at least every avenue before going to court.
Your contract with them will probably have a clause requiring 30 days written notice that you are terminating the agreement.
Make sure you do that asap if you are sure you don't want to use them in future.
Make it clear in the letter why you are terminating and that you will take them to court for the lost money since you have done everything to prove your bank did not lose the money (again, the only possible explanation).
Since they did not find you the tenant I am fairly sure they are just a managing agent and you can pick some other rip-off merchant (sorry estate c@nt/agent) to manage the flat for you.
Claim that you believe them and you are worried your bank has lost the money (since that is the only reasonable explanation for what they are claiming).
Make sure you write down the details (time, date, person spoken with) in case you have to go to the small claims court to get the money back.
Obviously, they are total c@nts who are ripping you off, but you want to try at least every avenue before going to court.
Your contract with them will probably have a clause requiring 30 days written notice that you are terminating the agreement.
Make sure you do that asap if you are sure you don't want to use them in future.
Make it clear in the letter why you are terminating and that you will take them to court for the lost money since you have done everything to prove your bank did not lose the money (again, the only possible explanation).
Since they did not find you the tenant I am fairly sure they are just a managing agent and you can pick some other rip-off merchant (sorry estate c@nt/agent) to manage the flat for you.
They are the managing agent and collect the rent from the tenant and forward it to us
Each month they send us a sheet showing the rent from the tenant and a fee for thier services which they subtract from the rent giving a figure which they claim to deposit in our bank. More often than not the amount they state they deposited is not what shows on our bank statements
So far this year they have charged an annual management fee, a quarterly management fee and a monthly management fees, this is since Feb so YTD we have already paid considerably more in fees (1.7 times more )than we did last year in a full 12 month period.
We have phoned numerous times and as yet have not recieved an explantion or in most cases our calls returned, we have also written and as yet not had a reply.
I'm guessing that a solicitors letter will be the next step and i'm trying to get ahead of the game here
I am reluctant to try and intercept the rent from the tenant as we may fall foul of the contract between the agents and ourselves or even involve the tenant for that matter in this is not their problem but ours.
Each month they send us a sheet showing the rent from the tenant and a fee for thier services which they subtract from the rent giving a figure which they claim to deposit in our bank. More often than not the amount they state they deposited is not what shows on our bank statements
So far this year they have charged an annual management fee, a quarterly management fee and a monthly management fees, this is since Feb so YTD we have already paid considerably more in fees (1.7 times more )than we did last year in a full 12 month period.
We have phoned numerous times and as yet have not recieved an explantion or in most cases our calls returned, we have also written and as yet not had a reply.
I'm guessing that a solicitors letter will be the next step and i'm trying to get ahead of the game here
I am reluctant to try and intercept the rent from the tenant as we may fall foul of the contract between the agents and ourselves or even involve the tenant for that matter in this is not their problem but ours.
So it gets even worse!
You are paying 1.7x YTD what you paid last year as well as them not sending you the cash.
You HAVE to check what their contract with you says.
If they inherited you as a client without a new contract then your contract with the old estate agent still stands I believe.
That is probably unlikely but possible.
More likely is you signed a new contract and probably didn't read it (sorry but it does happen!).
As a result they are within their rights to charge you more.
As for the amounts paid to you - some of the money is getting through? Just not what it says on the invoices?
Depending on the payment schedule for the year it is very possible the company will charge you up front for the management fee and only then start sending you the full rental payments.
As a result the first few payments will be tiny, or non-existent, followed by the full payments.
Again, the payment schedule will be detailed in the contract.
The invoices will more than likely bear no relation to the payments you receive, they just document what the cost is each month, rather than the payment schedule.
Might it be worth going round to see them in person? (Once you have read the contract...)
You are paying 1.7x YTD what you paid last year as well as them not sending you the cash.
You HAVE to check what their contract with you says.
If they inherited you as a client without a new contract then your contract with the old estate agent still stands I believe.
That is probably unlikely but possible.
More likely is you signed a new contract and probably didn't read it (sorry but it does happen!).
As a result they are within their rights to charge you more.
As for the amounts paid to you - some of the money is getting through? Just not what it says on the invoices?
Depending on the payment schedule for the year it is very possible the company will charge you up front for the management fee and only then start sending you the full rental payments.
As a result the first few payments will be tiny, or non-existent, followed by the full payments.
Again, the payment schedule will be detailed in the contract.
The invoices will more than likely bear no relation to the payments you receive, they just document what the cost is each month, rather than the payment schedule.
Might it be worth going round to see them in person? (Once you have read the contract...)
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