Join Australia's most dynamic and respected property investment community

terminating an excl management agency agreement

Discussion in 'Property Management' started by Abooking, 13th Oct, 2015.

  1. Abooking

    Abooking Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    52
    Location:
    nsw
    Im planning on moving to a new agency. The fixed term lease comes up for expiry in 40 days. Ive read the agreement that I signed and it says I can give 30 days notice to terminate the agency agreement.

    The tenants advised that they would like to renew for another year.

    Ive had a read of the agency agreement that I have in front of me but wanted to be 100% sure that there is no legal recourse for them to come after me on the basis that they found me the tenants in the first place a year ago.

    I will be asking the new agent to prepare a new 1 yr contract with these existing tenants. Is my assumption above correct that the old agent cant sue me for lost commission or any B.S like that? Its a NSW management agency agreement.

    thanks
     
    Last edited: 13th Oct, 2015
  2. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,589
    Location:
    Adelaide, SA
    As long as you give the notice given on the contract, all is fair I believe.
     
  3. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

    Joined:
    14th Jun, 2015
    Posts:
    2,106
    Location:
    Sydney & Adelaide
    Yep so long as you have served the minimum term of the agency agreement and give notice in the stipulated manner you are good to go
     
  4. Kael

    Kael Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    277
    Location:
    Sydney, NSW
    Don't you pay a letting fee for them to find your tenant? Regardless, you don't need to feel obligated to stay - if the agency hasn't performed to your satisfaction, as long as you provide them with the minimum notice as stated in the contract, you should be fine.
     
  5. Abooking

    Abooking Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    52
    Location:
    nsw
    thanks for the replies
     
  6. DiligentPM

    DiligentPM Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    443
    Location:
    Brisbane
    Most agencies are also most cooperative with one another when owners move their business