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Old 28.11.2014, 02:16
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Put existing privat rental contract to a professional agency

Hello!

Does anyone know of it is possible to transfer an existing rental contract to a professional agency (we found the tentants ourselfes and the contact have just been signed and they are about to move in). We would like to do this due to security for us and them Thanks for answers in advance
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Old 28.11.2014, 04:55
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Re: Put existing privat rental contract to a professional agency

Please tell me more, I don't fully understand your needs.

Are you leaving a rental property?

Why do you need to change anything?

What type of agency?

Do you want the owner to use an agency?

What security problems?

Are you trying to break a contract?

You found the new tenants, and now you do not like them?
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Old 28.11.2014, 08:49
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Re: Put existing privat rental contract to a professional agency

Thanks for reply! We own an apartment and had to rent it out due to relocation. We found the persons who are going to rent the apartment and contract is standard. Everything is fine so far.

We signed the final contract for a few days ago and gave them the keys. They have only paid us for December although it is supposed to be paid from the contract day ( they say they did not understand) and complain about the cleaning after everything have been signed, we have had several people to look at the apartment and it and it is confirmed by them that the cleaning is ok. We rented the place out a little bit cheaper to be nice as well. My husband & I are quite easygoing.
There is nothing wrong with the couple who are renting our place, but I understand now that it is better to have professionals to handle problems like this both for them and for us. We don't want to cancel the contract, rather avoid this kind of discussions in the future. Therefore I would like to give the contract to a "professional rental company" who can take care of the interest from us and them.
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Old 28.11.2014, 11:28
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Re: Put existing privat rental contract to a professional agency

I know of owners who find the tenants themselves but then have an agency look after the contract and the handover. So what you are asking of an agency might be a bit difficult as it is not the ideal time to take over the property management side of things. But I do not believe it is impossible.

Have you considered the costs? The property management fees vary widely but generally it is a monthly percentage of the rent. That may include the accounting work for the utilities if the tenants are paying these on account but there may be fees charged for handling problems especially emergencies outside of working hours. You also need to decide how much the agency can do without contacting you. For example, I have owners for whom I managed properties where I could arrange repairs up to a certain limit without their approval. If you do not extend this right, it means every time there is an issue the agency needs to contact you. If you are an absent owner and you have no one to look after matters (a family member perhaps) then I understand fully the need for a local property manager who can handle matters without a delay. This is in your and your tenant's best interest.

Also consider language barriers. Most of my clients did not speak the local language when they arrived so I was the liaison between them and the property management. If your tenants do not speak the local language, then communication with an agency could be difficult.

Landlord tenant relationships can go sour very quickly. An agency is not going to be keen to take on an acrimonious situation so I advise you to have a very open conversation with your tenants first.
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Old 29.11.2014, 09:46
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Thank you very much for this answer, my husband and need to take this in to consideration. The apartment itself are complety renovated and there should not be much problems, but of course things always happen. The relationship with our tentants is not bad yet. My husbanand are French and the tentants do it as well. I really hope everything will be fine, renting out is not easy and right now I think that me might sell this place as quick as we can

Sorry for the mistakes, my spelling control lives his/her own life

Last edited by 3Wishes; 29.11.2014 at 20:27. Reason: merging successive posts
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Old 29.11.2014, 12:01
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Re: Put existing privat rental contract to a professional agency

How long have you owned it? You could take a big hit on capital gain tax if you've only had it for a few years and sell it for a profit.
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Old 29.11.2014, 12:59
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Re: Put existing privat rental contract to a professional agency

Oh, we only had it for a year we will not have any profit if we sell it cause there are lots of money to pay to immobilier agent and so on. We really love our place and are hoping to come back later. I think we have to own it give years before selling? Anyway I was hoping to keep it until I am very old, only 40 now
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Old 29.11.2014, 13:00
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Re: Put existing privat rental contract to a professional agency

Five years
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