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billy-w10

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  1. 1. Thank you. That makes sense. 2. The current rent we receive is significantly below the current market value. The Agent has not offered an increase, and advised against us requesting one (as he would). If i manged the property myself i could get an extra £150-200 PCM. Over a years contract this is a nice sum. Pros and cons however, i know. 3. Thank you. That is good information. 4. We have to give the agent one month according to the contract. It is correct this takes affect from the rent date. Thank you for your advise. It is appreciated.
  2. Hi Julia, Thank you for taking the time to reply, It is appreciated. 1. I am not looking to terminate the contract. The annual term has come to an end and is currently rolling on a month to month basis. I would obviously advise the agent that i would be giving him the required notice period of the contract, if i decided to manage the property myself. 2. The contract states: should the landlord enter into an agreement with the sub tenant the agent shall be entitled to claim compensation. Would they only be able to do this if the contract was still in place or still rolling? (The landlord has stated that due to economic crises he would not be able to increase his fee to the sub tenant, which could leave the property vacant if they left) What is a fair amount the agent should be making? £100, £200, £300 PCM? 3. Thank you. 4. I have subsequently looked at my contract which has a notice period of one month. Are you able to activate this at anytime during the month if the contract does not stipulate otherwise.
  3. Hi all, First post i have done! I'm looking to get into the property market and joined property hub to further my knowledge. I have a rental property that i never really thought much about, i gave it to a agency who managed this for me and basically forgot about it. However the more i am learning about the property market the more i am interested in my options. The contact has come to an end and is currently on a rolling contract. I have a few options which i may look to explore, however i am unsure of potential implications. The rent we get is around £200 less than the current market value. I am considering managing the property myself now i am looking to build a portfolio. The agent will not increase the income we receive, from what they originally offered 3 years ago i may add. Managing the property would be relatively straight forward as we have a decent team of professional tradesmen to undertake any works, if required. I would also look to get a contract in place. Here is what i am considering/need advice on: 1 Give the agent notice and find a new tenant aiming to receive the additional income. 2 Give the agent notice and keep the current tenant. Is this legally practical or could i expect to face a lawsuit, or is there a procedure you need to follow? 3 How many months bond you be fair to request? 4 I am told you have to give two months notice on a rolling contract legally, however i have recently been told it is one month? Look forward to receiving some solid advice from people who have the experience. Thank you in advance.
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