Hi,
This is my first post on the forum so I hope it is in the right place and self-explanatory.
We own a house in Weymouth, Dorset and back in April we instructed an Agent to find and manage a tenant in our property. We were very lucky in as much as the agent managed to let our property under a 6 month AST to LOCOG (London Organising Committee of the Olympic Games) who needed to house staff close to the sailing venue, working for the summer Olympic and Paralympic games (29/8 - 9/9/2012).
The AST runs from 1/5/12 until 31/10/12 and the agent was paid in advance by LOCOG for the six months. However, we are getting paid the standard monthly rent in advance as normal. It is now likely that the tenants will leave straight after the Paralympic games are closed down, approx. mid-September. Therefore, leaving the house empty and unoccupied until 31/10/12.
The agent has potentially found another tenant to move in asap after the LOCOG staff leave, which will be before the 6 month AST contract expiry date.
My questions are 1) can the agent do this and 2) the agent says we are not entitled to the outstanding rent from LOCOG when a new AST is signed with a new tenant. Which seems odd if they have already been paid 6 months in advance?
Although we have continuity in tenancies which is good, we will be technically out of pocket for 6 weeks rent. Any advice would be appreciated.
LynnA
This is my first post on the forum so I hope it is in the right place and self-explanatory.
We own a house in Weymouth, Dorset and back in April we instructed an Agent to find and manage a tenant in our property. We were very lucky in as much as the agent managed to let our property under a 6 month AST to LOCOG (London Organising Committee of the Olympic Games) who needed to house staff close to the sailing venue, working for the summer Olympic and Paralympic games (29/8 - 9/9/2012).
The AST runs from 1/5/12 until 31/10/12 and the agent was paid in advance by LOCOG for the six months. However, we are getting paid the standard monthly rent in advance as normal. It is now likely that the tenants will leave straight after the Paralympic games are closed down, approx. mid-September. Therefore, leaving the house empty and unoccupied until 31/10/12.
The agent has potentially found another tenant to move in asap after the LOCOG staff leave, which will be before the 6 month AST contract expiry date.
My questions are 1) can the agent do this and 2) the agent says we are not entitled to the outstanding rent from LOCOG when a new AST is signed with a new tenant. Which seems odd if they have already been paid 6 months in advance?
Although we have continuity in tenancies which is good, we will be technically out of pocket for 6 weeks rent. Any advice would be appreciated.
LynnA