Hello – I have a question that I hope someone could help me with or advise how to resolve. I'm also new to the landlord forum and so hope this is an acceptible use of the forum.
We recently become owners of a property that we have decided to rent out. There is a lease on the property and the managing agent has advised that if we are renting out the property then we need to advise them of this every time a new contract is signed. They have advised that we need to inform them (not ask permission) of this and that when we do this they will charge us 120 pounds admin fee. When I asked 'why' they responded that there is is a 'notice of underletting' clause in the lease. They also mention that I may be invalidating a 'block insurance' but I'm guessing that would only be applicable to flats and not our property which is a bungalow.
I have found the original lease docment for the property (a bungalow) and cannot find any reference to the word 'underlet'. However the lease does unclude the phrase 'underlease' as part of the following paragraph.
“Within one calendar month after any such document or instrument as is hereinafter mentioned shall be executed or shall operate or take effect to produce to the lessors solicitor every transfer of this lease or mortgage or legal charge of this lease of the demised premises or any part thereof and also every underlease of the demised premises or any part thereof and every assignment of such underlease and also every probate letters of administration order of court or other instrument affecting or evidencing a devolution of title as regards the said term or any such underlease as aforesaid for the purpose of registration and for such registration to pay to such solicitor a fee of 15 pounds of such greater fee as may be reasonable in respect of each such document or instrument so produced”
Does this mean that I have to advise them every time I get a new tennant?
I'm new to this game and if I have to pay the managing agent 120 pounds (potentially every 6 months with every new tennant) then so be it. However – what I don't want to do is get into a behaviour pattern of payment that I don't need to – especially if it's classed as an admin fee that they could potentially increase in an unreasonable manner.
Thanks in advance for any advice or insight.
We recently become owners of a property that we have decided to rent out. There is a lease on the property and the managing agent has advised that if we are renting out the property then we need to advise them of this every time a new contract is signed. They have advised that we need to inform them (not ask permission) of this and that when we do this they will charge us 120 pounds admin fee. When I asked 'why' they responded that there is is a 'notice of underletting' clause in the lease. They also mention that I may be invalidating a 'block insurance' but I'm guessing that would only be applicable to flats and not our property which is a bungalow.
I have found the original lease docment for the property (a bungalow) and cannot find any reference to the word 'underlet'. However the lease does unclude the phrase 'underlease' as part of the following paragraph.
“Within one calendar month after any such document or instrument as is hereinafter mentioned shall be executed or shall operate or take effect to produce to the lessors solicitor every transfer of this lease or mortgage or legal charge of this lease of the demised premises or any part thereof and also every underlease of the demised premises or any part thereof and every assignment of such underlease and also every probate letters of administration order of court or other instrument affecting or evidencing a devolution of title as regards the said term or any such underlease as aforesaid for the purpose of registration and for such registration to pay to such solicitor a fee of 15 pounds of such greater fee as may be reasonable in respect of each such document or instrument so produced”
Does this mean that I have to advise them every time I get a new tennant?
I'm new to this game and if I have to pay the managing agent 120 pounds (potentially every 6 months with every new tennant) then so be it. However – what I don't want to do is get into a behaviour pattern of payment that I don't need to – especially if it's classed as an admin fee that they could potentially increase in an unreasonable manner.
Thanks in advance for any advice or insight.