Agent termination fees "fair and reasonable"
Letting Agents

PainLord
PainLord
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1 Posts
6 months ago
0

We have a situation to resolve and one option we are considering is offering the tenants an avenue to terminate the contract without having to pay termination fees. It is a 3yr contract with about 29 months remaining.

Our estate agent has told us that their management fees of 10% are due in full if either party terminates. I pushed them on this and the following part of the contract that states "FAIR AND REASONABLE" but they do not seem to want to budge.

"Any such agreement by the Landlord, if given, will be subject to the Tenant being responsible for a fair proportion of the Landlord's costs incurred in entering into this Tenancy agreement and other fair and reasonable costs assessed in each case. As a general guideline, these costs may include (but not limited to):"

My point is that we will gladly reimburse their loss for the period the property is empty but we are not prepared for them to profit £10K from this.

So, my question to you is whether you think that the agent can enforce these fees, especially given that as I am a private landlord, I presumably am protected by the consumer rights act and this is unlikely to be enforceable?

Look forward to getting your thoughts.

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