Know your rights as a Landlord

In the past few weeks, I have come across so many people who do not understand the role of their managing agent or their own rights and duties as a landlord. I have decided to debunk the myths and misconceptions that have been allowed to grow, and hopefully, enable you to demand the service you deserve from your agent.


What is an agent? Basically, someone who has been given authority by a principal or landlord to act on his behalf. The agent is obliged at all times to put the interest of his principal above his own, and to conduct the business of his principal as if it were his own. How many of you can say this is the case with your agent? I would love your feedback, so we can discuss this topic.


Your duties as a principal or landlord are to disclose all relevant information about the property and to pay the agent for the work done on your behalf, this is the commission you pay.


What are the duties of the agent? These vary greatly, and you should find them in the mandate letter you have signed with the agent. This is the contract you have entered with the agent. So many agents put the mandate into the lease agreement. This is not correct as, the contract is between you and the agent and not you, the agent and the tenant. If you don't have a mandate letter signed, you should ask your agent for one, as this protects you and also allows you to terminate the contract with the agent if they are not fulfilling their duties.


In my mandate letters I include the following as my duties to the landlord:

•  Vetting references and selecting a suitable tenant.
•  Negotiation of the lease and rental, and the completion of the necessary contract.
• Collection of all rent and a provision of a statement every month. Close control of late and non-payment. (It is a legal requirement for you to receive a monthly statement showing rent received, commission deducted and expenses incurred to maintain the property. You must demand one if you are not receiving one!)
•  Routine quarterly inspections, and attendance to all necessary repairs and maintenance. In this case we will refer to you before incurring any expense that is out of the ordinary.
• Constant review of the lease and rent. In terms of the Rent Regulations 2007  Clause 39.4 “ The lessor of a dwelling may be permitted to apply for a variation of the standard rent after six months from the date of the signing of the lease agreement. Any variation of the standard rent which is 30% or less does not require approval by the Rent Board.”
•  Signing the lease agreement and all subsequent leases, having your power of attorney to do so. (Some landlords insist on signing their own lease, which is also fine.)

      Don't allow your agents to walk all over you, remember you employ them and you can fire them, giving three months' notice of the fact that you no longer require them to manage your property, of course this may be subject to the contract you have signed with them.

     Do you feel you are getting the best service? Let me know your thoughts and let's put a stop to unscrupulous agents taking advantage of the ill-informed public!