Rental Marketing Fee's

[Nix01]

I'm considering handing in early notice on the home we're renting. It's just not working out for a variety of reasons but chiefly it's just too small.

We don't have a break clause and all I can do is appeal to the landlord's better nature to allow us to terminate early. I understand we're liable etc but would like to offer to at least pay the costs of re marketing the property to find another tenant.

Does anyone have any idea what Rightmove charges to list properties?

not sure if it is ever split out like that - for instance, I pay a certain percentage to the agent for tenant find, referencing and rent collection etc, plus there are inventory and checkout fees. Some landlords pay just for tenant find and referencing.

agents probably just pay a flat fee to rightmove for a year's membership.

so (not very helpful..) your best bet is to ask what the overall 'tenant change' fee would be and negotiate from there.

Thank you Specialsubject

We pay a months rent to our agent for tenant find, reference checks and for the agreement to be signed up, plus £125 for inventory and £60 for check out (for which we use our own independent clerk). We had a tenant approach us to move just after signing a new 12 month agreement with a 6 month break clause (it was them that wanted a new 12 months too, rather than rolling) we met them half way and charged them another 2 months (meant they paid 3 out of the 6 months). Best of luck.

Thank you Havetowearheels. I'm sure this place will be rented quickly and easily.

It's not really a a case of how long it will take to rent. You have signed an agreement and if you move early the cost to the LL increase. If you average out the cost of agents fee's and inventory over the time you have been there then you will see the monthly cost is high. Most of our BTL's are in a high turn over area's and we expect a tenant to stay 18 months on average, if they stay 6 then it works out at lot of money.

I understand and I'm happy to pay his costs to allow us out of the contract on a friendly basis.

we'd be asking to leave 4 months early. As we wouldnt be renewing in hopeful that the landlord will accept our offer to pay the marketing costs.

Sorry about the typos.

as you note, a contract is a contract and all you can do is ask. He/she doesn't have to accept, but as you'll be going in four months whatever then it is worth a go as there might be a longer-term tenant coming up.

I'd start talking now, but unless you are really lucky I don't think anyone will turn up before Christmas.

When we were letting our house, the agency charged 16% of a full rental income for the entire period up front.

If the rent was £1000 per month, to use an easy number to work with, our fee to the agent would be 16% of £1000, so £160 per month, times 12. IE £1900. If you leave 4 months early, on the basis of a £1000 per month rent and 16% fees, Landlord will LOSE 4x£160 which is £640.

How much your landlord will lose by you moving out early depends on how the estate agent set their fees, how much you pay in rent, plus the cost of new contracts, reference checks, etc earlier than anticipated.

As somebody else has said, your contract states that you pay your rent in the contract period.

You have signed a legal document where you will pay rent for a year.

You can risk that your landlord says "Fine move out, but you still need to pay rent as per the contract, until the end of the contract term" They may decide to let you off if they find new tenants before your term is up, but legally, they dont have to. And you will be liable for utility bills until you are released from the contract.

We have tenants in same position i.e. wanting to leave early. The agent has suggested that they remarket the property and, if it's re-let, existing tenants pay our fees for new tenancy as well as agent's costs. If it's not let then the tenants will be liable for the rent for the full term. I'm happy with that and the tenants seem to be to as they realise it's probably not the best time of year to be finding new tenants.

Thank you for the input. I'm happy to pay the costs, as soon as I have confirmation on the other house I'll make contact with the landlord and suggest the above.