What can I do if my R2R in London was mis-sold?

What can I do if my R2R in London was mis-sold?

0:01 AM, 15th August 2024, About 2 hours ago

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Hello everyone, I took on a rent-to-rent (R2R) unit in June through a property sourcer based in London. The sourcer promised hands-off management with a 14% + VAT fee. However, the data presented by the sourcer hasn’t matched reality, and I’m losing about £800 per month. There are no bookings for September and October, so I’m facing an additional £6,000 loss.

I’ve given notice to terminate the contract, which will be effective in November, but I’m still looking at a total loss of around £10,000.

Are there any options to challenge the sourcer for providing misleading data?

My property is on Booking.com/Air BNB and some other online travel agencies – is there any option to challenge the company to get more bookings?

Any help will be much appreciated.

Thanks,

Kaushal


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