Managing Agent Issues

[diane]

HELP guys, I’m after some advice please, I’m currently a landlord on a house ( no issues at all) but I’m now on the cusp of buying a beautiful flat when I received most of the legal pack from my solicitor. After reading it the seller (+5 others tenants) took the Managing Agent for the landlord to FTT and won in 2016 plus and issue with them in 2018 but it’s not clear what that was about. Basically they were hiring there own company contractors to do minor jobs and charging a fortune! It says there has been a big improvement since but tbh I’m very wary this company will try it on again with MY future tenant! I’ve asked my solicitor her advice but would really appreciate your advice on this dilemma. Do I walk away from Landlord & their Management Company? Many thanks

Diane

[diane]

Also after researching the management company they’re doing the same shady tricks all over according to the reviews! 

[DezzaT]

Hi Diane

Not quite sure I follow - who's the seller and who's the landlord? Are they not the same person/entity?

As part of the legal pack, was there a contract between the current vendor and the managing agent? If so, there should be a termination clause in it to say how to cancel / exit the contract. You can always follow that process one you purchase it and takeover the property, and find yourself a new agent. 

[diane]

Hi Derek

the seller is a lady who now lives abroad

the landlord with the lease is Urbanpoint and he uses BPM to manage his properties, lots of complaints about BPM all over. So if I buy the flat I’m going to have to deal with BPM so obvs very wary given their track record.

Sorry if it wasn’t clear

Diane