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Let Agreed Definition

What is the definition of 'Let Agreed' mean? My estate agent has my flat (which I am to rent out) listed as Let Agreed. No prospective tenant has been decided on, so I don't understand what this means! I see it as 2 possibilities: 1) That a tenant has agreed to pay asking rent and landlord has agreed to proceed with them. 2) That an agreement of the rental rate has been agreed between estate agent and landlord! Kind regards Ian

Asked on Feb 8 2013, Renting in London | Report content

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  • Hi Tiffenberg, I assume from your question that you have made an application that is in process for the flat in question? In terms of let agreed, this means that the lettings agent or landlord has had an application from a potential tenant who has agreed to the rental payments and the level of deposit. What it means by let agreed is simply that they are still working through the process of going through credit and reference checks, and that no actual lease or tenancy agreement has been signed as of yet. Many thanks, Scott

    Answered on Feb 11 2013, Report content
  • Zoopla_mod thanks. I am landlord as it happens. There has been interest (via agent), but I have not agreed on any new tenant. Therefore I assumed it to refer to me and estate agent agreeing the rental fee! Obviously I asked on here as I thought it could be what you refer to.

    Answered on Feb 11 2013, Report content

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