10 Jun Foxtons Legal Bill
Foxtons Legal Bill
You won’t be able to avoid this story as it’s plastered across every front page of every newspaper. It’s the story of estate agent Foxtons charging a landlord £616 to change a light fitting which, worked out at a 49% markup on the cost of the actual work. Foxtons legal bill for this could run into the millions some predict so we here at Home House Buyers give our verdict on the story.
This all started from a problem reported by Dr. Chris Townley who had his London-based property managed by the Foxtons group and had done since 2011. Back in 2013 he put a request in for the management company to fix an issue with a light fitting. The initial quote from Foxtons came in at £412.50 but, they ended up billing Dr. Townley for £616 in total. Initially, there was a complaint made by Dr. Townley as the work was seen to be sub-standard and he tried to argue the case with the contractor Maintenace1st. Maintenance1st Disputed this claim and didn’t end up refunding Dr. Chris Townley. When he discussed the issue with Foxtons they admitted that their commission on at £137.50, this is a staggering 33% of the subcontractors fee.
So what is Foxtons legal bill likely to be costing them? Well, people are predicting that it could be costing them as much as 42 million pounds. This one single dispute could open up the floodgates to many more complaints and as we have seen with the banks overcharging things can get expensive. Dr. Townley has since started proceeding and we here at Home House Buyers hope that he wins and open the floodgates for those that have had similar treatment.
There can be many problems when you are trying to manage buy to let properties, management cost, bad tenants and not to forget problem properties. If you need quick house buyer to buy your property then just call Home House Buyers as we can complete on properties within weeks and you can find out more Here.