My husband and I own a fully furnished apartment in Cape Town which we decided to rent out using FZP Apartment Rentals as the letting agent. The agreement was that the rental income would be at 30% commission and the rates would be fixed and agreed to with all parties. Upon signing the letting agreement, FZP started A) letting the property at lower rates than we agreed to, B) charged up to 50% commission on the selling price per nite (without informing us and neglecting to show this on the invoice) and C) started billing us for ad hoc maintenance which was not approved by us (we specifically asked for prior approval). After 2 years of atrocious service, we cancelled the agreement. 3 Months prior to cancellation, we paid the annual linen update fee of R3500. We have finally taken back the apartment keys from FZP and have found that the linen provided is stained and holey, certain items in our apartment are - even the toaster - and the flat is a mess. If you are planning to let your apartment - one of the largest assets you could possibly possess - DO NOT ENTRUST THIS AGENT WITH YOUR ASSETS. They will from your income and ruin what you currently value.
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