Letting agents renewal fees

[pink3]

I am a new (inexperienced) landlord who has inherited a small flat in London. I have a great tenant who has been on an AST for the past 12 years. However, every year when the AST is up for renewal the original agents charge 7.5% to complete the paperwork. This amounts to over £1000 a year for very little work as I do all the management and the tenant pays her rent directly to me.
I obviously intend to stop this arrangement with the agents when the tenancy is up for renewal in Aug this year. Do I need to give the agents notice of this?
I expect to get a fight from the agents but surely as their agreement was with the previous owner who has since died I am not obliged to continue with it? Am I right?
Some advice and input from fellow forum contributors would be most appreciated. Thanks
Pink3 :)

[stan3000]

This all depends on the contract between you and the letting agent. If you didnt sign a contract with lettings agent then you should be able to tell them that you want to stop using their services.

[Energise]

Am I right?

Yes.

£1000 :eek:

[Paul_f]

Inheritance of a flat means you should ahve a new terms of business drawn up with the agent. As I've posted many times before London Agents try ti on cocnerning "renewal fees" and the OFT don't like charges being made that are "unreasonable".

The agent can't hold you to a contract drawn up with the previous landlord.

Time to move on now! And you could instigate court proceedings against the agent to get your money back as it might just succeed!