Estate Agents Pulling a FAST ONE!!

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  • Estate Agents Pulling a FAST ONE!!

    Hello all,

    I have just let a flat of mine via a letting agent. They do not MANAGE the FLAT as I chose to manage it myself.

    The problem is with the deposit, the agents say that they have to hold the deposit which I strongly objected to, now thay say they will have to ask and confirm from the tennant who should hold the deposit!! Can some one let me know what the position is here please. My contract with the agents finnished from when the tennants moved in and since they do not MANAGE the flat, is there any legel duty for the agents to ask the tennants who should hold the desposit?? does the tennent have any say on who holds the deposit or is the agent just trying to make it difficult so that they the agents get to hold the deposit??

    secondly, if the Tennants being tennats say they want the agents to hold the deposit, what is the position. I feel the tennants have no say here in actual fact as the AGENTS are not managing the FLAT. Can some one explain to me please if they agents are right at all and on what grounds if they are.

    Thanks all for all your support.

  • #2
    It's normal to ask agents questions before the event, not afterwards, but anyway here goes................

    (By the way there is a forum for Letting Agents Questions which is where you should have posted it!)
    1. Did you receive written terms of business with the agent before you signed up with them?
    2. Is there anything within your contract with the agent stating who will hold the deposit?
    3. Does it say if the deposit is held as "stakeholder" or "landlord's agent" within the tenancy agreement?
    When I know these answers I can then tell you what you might be able to do.
    The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

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    • #3
      A few years ago, my agents not doing their job, I took my business away and asked them to pass on all paperwork and deposits which I understood were held on my behalf. When they refused, I checked with the professional bodies, ARLA, RLA and RICS, they all informed me that the deposits could only be passed on to me with the tenants' permission as the money was held in trust and belonged to the tenants. I wrote to all the tenants explaining this and put the point to them that as and when they left, would they rather deal directly with me or go through a third party who had no interest in handing the money back and whose contract was being terminated because of incompetence. I also enclosed a letter from them to the agent for signature if they wished. All of them signed.

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