Holding deposit received by letting agent - can I have it?

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    Holding deposit received by letting agent - can I have it?

    Letting agent took a 1 week holding deposit from overseas student applicants approx one week ago. Referencing commenced, but apparently they have failed to provide right to rent documents, and have till 3pm today to do so, after which the agent says they will put the property back on the market. If so, can I rightfully ask for the 1 week deposit? Note I instructed two other agents to cease marketing as soon as this agent confirmed they had the holding deposit, even turned down higher offers.

    #2
    What did you agree with the letting agent?

    (If you listed the property with 3 different agents, maybe you're getting the dedicated service you deserve.)

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      #3
      That 1 week is going to be your (agent) own arbitrary deadline. Unless agreed otherwise, the normal overall deadline for agreement is 15 days. If you (/agent) decides not to go ahead before that, even if it was on the basis that the perspective tenant fails to provide required docs so far, I would say it count as you deciding not to proceed. Which mean you would be legally required to return the holding deposit.

      I guess your (/agent) argument is that you need to extra week to process the docs etc., so them not providing it by your own deadline is sufficient to meet the ground that the tenant fails to take all reasonable steps.

      As to your underlying question of whether you, instead of the agent, can get that money, as boletus said, what was your agreement?
      I am not a lawyer, nor am I licensed to provide any regulated advice. None of my posts should be treated as legal or financial advice.

      I do not answer questions through private messages which should be posted publicly on the forum.

      Comment


        #4
        Check my thread and what I went through recently, basically I didn't agree to it (was not stated in the ToS after checking) and they eventually passed it onto me after my constantly chasing and them 'consulting' their in-house council.

        I would ask them to point to exactly where you signed/agreed to them keeping the deposit if you can't see it yourself. If not agreed, then it should come to you as is standard.

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