How To Change Letting Agent?
We frequently speak to Landlords that are unhappy with their current agent and want to change management but feel tied to the current agency through a tenancy being ‘active.’
Fortunately, you are not tied, and there are options, but as with any change, there can be negatives and positives.
The Costs?
The first step to any management change is to review the contractual implications of ending the contract. Will it have financial or time costs? We have seen up to one month’s rental income as a penalty and massive three months as an exit period.
Depending on the management agreement, it may be best to leave an agent at the end of a tenancy instead of giving away many hundreds of pounds which could take a long time to recover.
Should you need a copy of your management agreement, the letting agency should be able to forward you a copy.
How to action a transfer of management?
The management transfer is a simple process for the Landlord with one email to both agents confirming the change to management. The new Letting agent would then contact the current agent to request the contact details for the tenant(s) and arrange the collection of keys, legal documents/certificates, and inventory.
Can we transfer the management and keep a tenant?
For the tenant, a change in management during a tenancy can occur with minimum disruption. The deposit can be transferred and remain within the original deposit scheme, and legal certificates remain ‘live’ until their expiry dates.
Enforced Change of Letting Agent?
For those Landlords who have had a change of management enforced upon them, i.e., the sale of a lettings agency, the management agreement may show how this affects your exit clauses, but again, it may be worth checking.
The positive is that Landlords do not need to stay with any agent if they do not wish to remain in the contract.
Transfer to Win Win?
To transfer management to Win Win, all that is needed is to send an email as detailed above (after checking exit terms). You can do this in the comfort of knowing that we charge no exit fees and only have a 30-day rolling contract, the cherry on top of the fixed price and the savings in management fees.
If you would like further information as to what we can do for you, please call on 01315107590 or email Ryan@WinWinPM.co.uk
For further information on who we are and our why, please see our website at https://winwinpropertymanagement.co.uk/
We are a registered Letting Agent with the Scottish Government and can be found on the register via our registration number LARN1902081 https://register.lettingagentregistration.gov.scot/searchtype?
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