I have let my property for the last 7 years, and would like to change letting agency due to poor service. I fear my contract with them won’t let me. Here is the relevant clause:
In the event that this agreement is is cancelled by yourselves prior to the arranging of a Tenancy an administration charge of £x is payable, If the agreement is cancelled during the period of tenancy with a tenant in occupation, then full management fees will be payable until the end of the occupation / lease with that tenant, whichever is the longer.
The tenant always belongs to
To end the contractual arrangement with the tenant must have moved out of the property.
– The property will need to be completely empty (unless rented as furnished)
– will need to be able to check the tenant out of the property
– All utility bills will need to have been closed / finalised
If during tenancy you wish to take over the tenant then a charge of £1000 plus VAT will be payable.
I know I was a fool to sign the above. For brevity I won’t go into it. The tenants are reasonable and unlikely to leave.
Do you think there is any way I can get out of this contract? I wondered if I could take the tenant over and then perhaps further down the line appoint a new agent, as I live a long way from my property. The truth is I’ve had to organise most maintenance and repairs myself the last 7 years.
The contract commits them to nothing.
Assuming there is any possibility, I do not really understand the position about the deposits. I believe it’s held with the mydeposits scheme, but I confess I don’t understand whether the agent is holding it, or a third party is. Do you have some reference material that might help me to understand it?