Rent roll sold, where do I stand?
Question from John updated on 24th June 2011:
Our expert Juliet Robinson responded:
This is an interesting situation. (You may originally have chosen the services of Company 1 after rejecting an offer from Company 2.)
The latter is probably now claiming that the rights and obligations of Company 1 were assigned to it when it purchased the rent roll.
However, on-selling management of your property is not like on-selling a hire-purchase finance agreement.
It is something personal that you need to be happy with. You may find that your commitment to Company 1 (and vice versa) was broken when that company sold its rent roll.
If Company 2 remains stubborn you may complain to the Real Estate Institute.
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