I'm in a situation where I would like to hear some advice what I should do since I'm certain that my landlord will try to take an advantage of me. I'm a university student living in Harrow (London). I have rented a room from my Landlord who I met two years ago when she was renting one of her rooms as a home stay option for an international students. So I was her customer once and when I got accepted to study at university (which is pretty much around the corner of her house) I asked her if she would be willing to rent me a room from the house. Well she was happy to do so and once I moved in she soon rented other rooms in the house as well since she realized that she could earn money by doing this.
There are currently four people living in the house (+landlord). Most of this time my landlord has been living in an another country where here family lives and she has let an agent to take care of her property while she has been gone. This agent hasn't however done anything for the house, he just manages the money and is very keen not to fix anything in the house, he just makes me to take care of everything. I'm not lying when I say that have been the "real agent" in this house ever since I moved in. Till today I have taken care of all the problems this house has seen from a leaking bathroom to finding new people for the rooms. I haven't got any compensation for doing this all, I have only got £50 "finders fee" off my rent every time I have found my landlord a new person for an empty room. So I have done a lot charity for my landlord and the agent for over 1,5 years now so of course by now my landlord trusts me since I have taken extremely good care of her house and she knows that I will keep it in a good shape as long as I live here.
Few days ago my landlord came back to the house and yesterday she told me that she is now planning to make me her agent and ditch our current agent. I would assume that she has realized that there is no point for her to pay this agent who doesn't really do anything, I do all the work for him and more efficiently and with less money! So my landlord has suggested that I take over the agent but I'm not sure what kind of compensation I should be receiving if I do that. I'm sure she will try to give me the smallest compensation possible because that's just the way she does things, but if I know more about these things before she offers me this deal officially, I have more room for negotiation.
Based on the the things I have read from the internet and here on Landlordzone people seem to be saying that letting agents take about 10% of the total rent. Since I'm just an international university student who has no previous experience about being an agent of any kind, I'm not sure what should I do in this situation. My landlord has mentioned that she would give some money off my rent for acting as her agent but she hasn't mentioned how much. She is currently charging from four people in this house: £540, £540, £450, £450 (my rent is £540/month). So she earns about 2000 pounds every month. I have no idea how much she is paying for this agent but I'm sure she will save quite a lot money if she starts using me instead of him. I's almost guaranteed that she will draft this "act as an agent offer" in a way that she wins and I lose since she want's to gain more profit for her pocket. I wouldn't even be surprised if she would offer me something like let's say £20 off my monthly rent for acting as an agent. So what do you think about this situation and what advice would you give me? How much I should get compensation if I would agree to do what she wants?