Big Fees If Landlord Sells Property To Tenant
- By Landlord Lawyer
- Published 24/03/2011
Many landlords have found out to their cost that when they instructed a letting agent to find a tenant, they did not appreciate that if ultimately the tenant buys the let property they will have to pay the letting agent a commission, typically 2.5% of the sale price.
A nice earner for the letting agent, a big shock for the landlord not expecting a hidden clause in the small print.
We are already acting for landlords who are defending such unfair clauses in the rent renewal letting contracts between landlord and letting agent. Some fees are over £18,000!
Our Solicitor, Ronnie Hutcheon advises on such clauses:
"Any landlord who has or intends to sell the let property to his tenant and discovers that they will now have to pay a sale commission to the letting agent should seek legal advice immediately. Such clauses are now difficult to enforce following the OFT v Foxtons High Court Case. Any landlord who has already paid these type of fee, may be able to claim back what they have paid to the letting agent. In many cases we can act for the landlord on a no win no fee basis."
Call 0151 431 0548 / 0800 011 2757
(9.30 am to 6.00 pm Mon - Fri)