Legal Question in Real Estate Law in New York
We have a rental property and have used a real estate office to take care of the rentals for which we pay them a 20 % fee. However for the past few years we have also rented on line by owner. We have had such a better rental rate that we only have one renter from the real estate that rents our house for 1 full week every summer for the past 6 years. Out of loyalty to the real estate we started with and to the loyal renter, we have kept this one rental. However we no longer feel the need to pay even this 20 % It is considerable at $800.
My question is legally how do we keep the renter but lose the real estate? My husband says that we can be sued if we inform the renter that we only advertise on line now. Also, is it possible to inform him, if we rent to someone else next year and then tell him or would that still be stealing someone elses customer?
1 Answer from Attorneys
You could try to negotiate a settlement for a release from the real estate agent.
In any event, if you retain the Tenant without an agreement, you may be subject to a lawsuit.
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