Holding Deposit

confusedandannoyed

I put down a holding deposit on a property a week ago. The agent went all quiet and has told me today that it has been let out at a higher rate. We were not at fault (no poor credit checks etc etc) and were never offered the opportunity to offer more money.

Initially they refused to return my holding deposit though have now stated that they will be returning it. However for 'administration reasons' it won't be immediate and they won't give me a time line. I am a bit peeved by this as they should know the law on the holding deposits and it is very cheeky that they stated they wouldn't return it. If they have done the credit checks then they need to charge the landlord for that not us as their own terms and conditions state. It is not our fault the landlord has let this property out independently without any consultation with anyone else and if they want to recoup the money it should be from them.

I really need the money back, it is almost £900 and I need to move quickly. Without that it makes putting down a deposit on another location harder. How long can they reasonably take it to refund it? I'm happy to do bank transfer or cash so they can hardly say I am being unreasonable about repayment methods.

BitterAndTwisted

For nine hundred quid I'd be on the phone to them every single day until they'd refunded it. Have you asked them what the delay is? Have they paid your monies over to the landlord and now they're waiting for it to be returned so they can refund you?

confusedandannoyed

No monies have been paid I think and even if they have paid the landlrod money that is their problem with the landlord not with me.

We've shown every good faith. Provided all information required, paid full holding deposit and been ready to pay the full deposit when required and have been phoning and emailing every day to ask what stage this is at.

BitterAndTwisted

I'd be tempted to sit in their office at the busiest time of day and ask them in a very loud voice for the return of your money.

confusedandannoyed

I'm tempted to bitterandtwisted (far better username than mine by the way). Is that legal though? I don't want to get done for harrassment/trespass (I would of course be exceedingly polite but I don't see them taking well to it)

mrcol1000

confusedandannoyed wrote: »

I'm tempted to bitterandtwisted (far better username than mine by the way). Is that legal though? I don't want to get done for harrassment/trespass (I would of course be exceedingly polite but I don't see them taking well to it)

Along as your not aggressive and you don't break into the Letting Agent while they are closed it would be a civil matter. I would keep calling them. Twice a day or so. If you could find a solicitor who would do it cheap enough a letter may speed them up. They obviously want to try and hold on to the money as long as possible. Its probably filling a cash flow hole until the rents come in.

rsykes2000

Maybe you could download and fill out the small claims forms and send a photocopy to them giving them a week before you file ?

tbs624

Written letter , headed "Letter Before Action". Keep a copy.

State property address, date holding deposit paid, confirm your understanding of discussion to date ( keep only to fact)then "please return my holding deposit of £900 within the next 3 working days - I am able to call at your office on x or y at (time) to collect the money" (if you paid in cash, request its return in cash) Tell them that if they fail to refund within this period you will proceed straight to the small claims court and will seek recovery of the costs involved too.

At the bottom of the letter type cc: my town Council - Trading Standards Officer and Private Sector Tenancy Relations Officer and send a copy of your letter to both.