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I have signed a house rental contract with Estate Agent X

I have signed a house...
I have signed a house rental contract with Estate Agent "X" on 24 June 2010, only to find out that Estate Agent "Y" is renting the same units for R350,00 less. I was pushed to pay the deposit by "X" asap, to secure the unit in the complex that I wanted. I now wish to cancel my contract with "X" and move the rental over to "Y". Is there a contract cooling off period for housing rental contracts, and if not, what will a reasonable cancellation fee be?

I have not yet received a copy of my contract, and occupation is only 1 August 2010.
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Answered in 12 minutes by:
7/3/2010
JP
JP, Attorney
Category: South Africa Law
Satisfied Customers: 1,063
Experience: General South African Law.
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Good day!

 

Is there a contract cooling off period for housing rental contracts, and if not, what will a reasonable cancellation fee be?

 

As this contract is not a Deed of sale i am sorry to inform you that there is no cooling off period. Furthermore there is no cancellation fee that you can pay as the contract is now legally binding.

 

Agent x is right you cant cancel unless the landowner is not prepared to sign. Why not tell agent x that you are going to inform the landlord that they are charging possibly more commission as what he has agreed to that way the agent may back off and not produce the rental contract to the owner leaving you free to sign with y if x tears up the contract.

 

 

Kindly accept my answer by clicking on the accept!

 

Kind Regards

JP

Attorney

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JP
JP, Attorney
Category: South Africa Law
Satisfied Customers: 1,063
Experience: General South African Law.
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