Letting agents

[erj]

Hi not sure if this is the right place but I will ask, I do a lot of work for a letting agent in Newcastle who have now in formed me they are going to take 10% off all my invoices for commission from the first of Jan .
Is this normal?. do I put a extra 10% on my bills or just tell them were to go?

any thoughts guys

 

[snowhead]

I bet it's not a coincidence that Agents are being banned from taking fees for setting up a tenancy agreement from the new tenant.

I would have thought that they were already adding 10% or more to your invoices before presenting them to the Landlord.

 

[Scott_D]

And probably charging landlords a monthly fee for managing the property

 

[chris watkins]

Just write back to inform them that your price will be rising by 12% from the first of January.

 

[Dotty]

Hi not sure if this is the right place but I will ask, I do a lot of work for a letting agent in Newcastle who have now in formed me they are going to take 10% off all my invoices for commission from the first of Jan .
Is this normal?. do I put a extra 10% on my bills or just tell them were to go?

any thoughts guys

Tell them that's fine because you're increasing your prices by 20%

 

[joni os]

You will need to add 11% to break even. Their 10% will come off your top line. Better still add 22% then you'll both be making money. If they don't use you its no different than if you told them to get stuffed and they'll still come back to you in emergencies. Don't undersell your skills.
Any existing rates or prices, currently agreed, are nullified by their notification. You are now free to set your own rates.

 

[JCplumb]

I'd like to know how they were doing it before taking the 10%, you can guarantee they were making money off your work, either by giving the landlords an inflated plumbing bill, or charging him a fixed fee for managing the job.
If they're taking 10% off your bill and that's all they're making when you do a job then I'll eat my pipeslice.
My guess is they're screwing you AND the landlord, bit of a liberty really. So you go and change a fill valve on a loo, bill them £75, they bill the landlord £120 and then take some of your profit.
At least Dick Turpin wore a mask

 

[SteveWannadoGas]

And probably charging landlords a monthly fee for managing the property

For sure!

 

[Chalked]

It's how most businesses work. You buy somthing, put on a margin and that's it. The agencies have now been banned from adding to an invoice. You need to add 11% minimum to your invoices, then they take 10%.
In effect the landlord will get the same invoice value. As its you adding on instead of the agent.

 

[gpbeck]

If you are submitting invoices to the agent, they have to settle the full amount or you can sue for shortfall.
They can invoice their clients for whatever they like.

 

[Leo21]

As my dad always said "don't put all your eggs in one basket"