House letting contract

[ipitythefool]

Letting a house for the first time in a few years.

The agent is saying that their 10% fee for rent collection has to be paid up front for 12 months worth. Is this normal?

And that should the tenant move out after 6 months then there is no refund of the remaining 6 months letting fees?

When I let a previous property a few years ago, agents were bending over backwards to get me onboard as a landlord. Now they seem to be lording it.

[CCCS]

I've just let mine. The agent is taking their 10% out of the rent each month and paying the balance over to me.

[Office_Monkey]

If it's an introductory fee (i.e. not a managed property) then they will ask this. Otherwise they are taking the piss.

[ipitythefool]

CCCS said:

I've just let mine. The agent is taking their 10% out of the rent each month and paying the balance over to me.

Is it a managed let?

[Pickled Piper]

Office_Monkey said:

If it's an introductory fee (i.e. not a managed property) then they will ask this. Otherwise they are taking the piss.

What he said. If they are introducing only then they will take a lump sum. If ongoing management, then they most will take their cut of the rent every month.

pp

[ipitythefool]

Pickled Piper said:

Office_Monkey said:

If it's an introductory fee (i.e. not a managed property) then they will ask this. Otherwise they are taking the piss.

What he said. If they are introducing only then they will take a lump sum. If ongoing management, then they most will take their cut of the rent every month.

pp

There is introduction-only which an up front fee is for, and managed let which is a per-month fee. But what the in-between situation of rent collection?

[NDA]

ipitythefool said:

Letting a house for the first time in a few years.

The agent is saying that their 10% fee for rent collection has to be paid up front for 12 months worth. Is this normal?

And that should the tenant move out after 6 months then there is no refund of the remaining 6 months letting fees?

When I let a previous property a few years ago, agents were bending over backwards to get me onboard as a landlord. Now they seem to be lording it.

I have two houses for rent and my agent charge the 10% up front, for the whole year. However, if the tenants move after 12 months, you get the fee refunded pro rata.

I have a copy of my tenancy agreement if you want me to email it to you.

EDIT

PS, Just to clarify, if finding you a tenants - it's 10% up front. If managing, it's 15% up front.

Edited by NDA on Monday 16th February 14:30