Considering switching letting agents. What are the common exit fees or cancellation clauses I need to watch out for in an existing contract, especially if the new agent takes over an existing tenancy?
Quick Answer
Letting agent contracts typically contain cancellation clauses and exit fees, especially if you switch agents while a tenant they introduced is still in residence. Common fees include a percentage of annual rent or a fixed number of months' management fees.
About This Topic
Understand letting agent exit fees and cancellation clauses. From April 2025, assess costs like 10% annual rent fees or 3-6 months' management fees when switching agents in the UK.
This question is part of our Financing & Mortgages category, providing expert guidance on UK property investment.
Expert Guidance from Steven Potter
Steven Potter is a UK property investment coach with a £1.5M portfolio and over 5 years of hands-on experience. He has helped over 1,000 students achieve their property investment goals through practical, ethical strategies.
Ready to Take Action?
Get personalised property investment coaching with Steven Potter's Property Freedom Framework.
Learn about the Property Freedom Framework