Hi all and thanks for the addition to the group. I have been with the same agency for a long time, so they have milked me for a long time. They gave found me tenants, and now we’re coming to their 3rd year of reneqing. The thing is that I don’t want to pay another annual fee for them finding my tenant(s). The question is , what wiull happen if I don’t sign the new renewal contract. I know that the tenant(s) will stay, for sure, but what does it mean for me, legally? Thanks in advance
Good question. You will need to read the contract that you have with them. The previous contract (not the new unsigned one).
Very likely the contract will have a clause to deal with cancellation/ termination of the contract between them and you. Read this carefully. The agent contractually is likely to seek a fee if the existing tenant is going to remain in the property. The tenant they found and is in your property now.