This week on Ask Rob & Rob, Brian asked:
How do I get the best deal out of my tenancy renewal?
The answer touched upon one area where you can work your letting agents down around the renewal period: renewal fees. Lettings agents like to charge a lot for renewals, for not that much work. “Do you both want to renew? Yes? Great, have some contracts.” Often this costs you (and the tenants) hundreds of pounds. This is an area where you’ve got some leverage; if they’ve got any sense at all, they’re not going to want to lose your business over something piddly like this.
The end of a contract is also a good time to renew your rent. Your agent might not do this, so do some checking of your own, but get them to check what the market rate has become. Unless the market’s moved significantly though, it may not be worth pushing your tenants too far.
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