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LondonlawyerJ
LondonlawyerJ, Solicitor
Category: Property Law
Satisfied Customers: 808
Experience:  Experienced solicitor
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I want to put my rates up to landlords

Resolved Question:

I'm a letting agent (property management)and I want to put my rates up to landlords from for e.g. 9% to 10% (some are on 5-7%!) and now charge for an element that I didn't used to (inventory and check outs), can I issue them with new terms and conditions to replace their old ones, and then do they have to sign?.. or can I only do this after the tenancy has ended that they signed t&C's for? We don't get them to sign new ones every tenancy - so some signed 3 years ago and have had several tenancies since.. and what about the ones that have signed up newly and are still within a fix terms of their tenancy? Thanks

Submitted: 2 years ago.
Category: Property Law
Expert:  LondonlawyerJ replied 2 years ago.
LondonlawyerJ :

Hello I am a solicitor with over 15 years experience. I will try to help you with this.

LondonlawyerJ :

If you have a clause in your agreements governing variations then this clause will need to be followed. If there is no such clause then those clients who are in the original contract period are entitled to continue under the agreement they have signed. Those who are outside the time of their original agreements you can contact to vary the terms of the agreement in the way you suggest. However you will need to this on a rolling basis as tenancies expire because the clients can assume the arrangements are unchanged unless you tell them and if they enter into a new letting with you after the original agreement has expired and you do not vary the conditions at the outset then they would reasnably assume the terms are the same.

Customer:

Thanks for your reply, would I be able to approach landlords within a longer term tenancy (after the initial fixed term) and give them three months notice of my intention to give them new terms - as I have this clause in there:

Customer:

"This Agreement will remain in force until terminated by service of three months’ notice by one party on the other provided that The Agent may terminate this Agreement forthwith and without service of notice in the event of any action or omission by The Owner or The Owner's representative which frustrates the continued performance of The Agent's Service hereunder. "

Customer:

Obviously I run the risk that they say no or negotiate..?

LondonlawyerJ :

Yes. I think you could send them a copy of the amended agreement and say that you are terminating the existing agreement to be replaced with the new one. Whether this is the best way to go about it rather than just seeking to amend the terms at an appropriate moment is down to you.

Customer:

Thanks I think it depends on the individuals involved, so I will decide on case by case basis and tread carefully! I will leave all new ones to run the fixed 12 months they signed for obviously as it wouldn't be fair otherwise but I have lots of longer term landlords that need dragging into line with others at least even if not 10%. Thanks for clarification..

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