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In the terms and conditions, a document which was signed by myself, the following is stated:
"RENEWAL FEES "WHICH WE ACTIVELY WORK FOR YOU"
Actively persuading the tenants to stay and actively negotiate the best terms for you.Should the tenants, their family, friends or associates renew the lease on the property, either by the creation of a new tenancy orsimply verbally by a periodic tenancy our fee will be 5% plus vat and for each subsequent year's renewal. We always play an"Active Role" in persuading the tenant(s) to stay and negotiating rent levels (we actively push for a rent increase), organizingchange of tenancy by collecting and checking references, organizing new contracts where applicable, rental increases onperiodic tenancies will be dealt with under Section 13 Notice. Further more if the tenant leaves during the next renewal periodwe refund to you 100% of the outstanding renewal fee (e.g. 12 months renewal and the tenant leaves after 4 months = 8 monthsrefund). All renewal fees are discounted at 20% of our letting fee."
Not yet - they have contacted the tenant to assess their interest in renewing the contract.
They are awaiting our approval before entering negotiation.
We are in communication with the tenants directly. And they are amenable to engage with us in this manner.
I would stress that this estate agent has merely introduced the tenant to us and has provided no property management services since the first tenancy agreement was drawn up 50 weeks ago.
Thanks for your expeditious reply. It was very helpful. Would you be able to pass on any related information to me?
Sorry - I had presumed from your previous statement: "...I will give you related information for free..." implied that you had specific information in mind.
My thanks for your help.