The Foxtons case – a lesson for all

AK_3_MIKE_WHITE.jpgThe recent High Court case involving London-based sales and lettings agent Foxtons is a lesson for us all, says Mike White, of Norwich-based Martin & Co.  The case looked at whether it was unfair to continue to demand “renewal” commission from a landlord if a tenant stayed on past the initial tenancy period – even if the agency had played no further part in arranging or managing the extended tenancy? Also should a letting agent be able to charge a percentage of the value of the property if the tenant goes on to buy it?

WOW! A simple rule to follow is that any contract not written in “plain and intelligible” language, should not be entered into. For example, at Martin & Co. our agency agreement is written in plain English and our fee structure is laid out in concise terms.  All transparent! No ambiguity! Another issue arising from all of this; should letting agencies even charge renewal fees? We do (clearly set out at £50 + VAT) and we think it’s worth every penny but that’s another subject for another day……………..

Mike White’s at Martin & Co on 01603 766860 at 13 St Giles Street Norwich.

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