landlord pulling out last minute?

lanren77

Hi,

I'm quite new to this and would like to have your advice:

I'm about to relocate to Reading and currently looking for a flat to rent. As decision of moving to Reading comes to a very short notice, we literally have only 2 weeks to find a place and settle in. we visited a few local agents and express it's quite urgent after we realised that properties gone off the market quickly in Reading (maybe it's all because of the big companies in Reading?), last week, we viewed a flat, was happy about it, put down the holding deposit straight away and let the agency to proceed the application.

Then, 1.5 days before the moving date, the agent called, landlord pulled out so the place is definitely a NO. the thing is it's an unfurnished flat, we have already bought furniture to be delivered to that place.

my questions are:

1. what's the point of holding deposit? will that fully secure or legally bound the property if potential tenant made the payment?

2. any compensation from the agent? am quite !!!!ed as the lady (property manager) from the agent told me to seek advice from Citizens Advice Bureau after i told them it's not the right way to do business. what attitude is that?!!! and I feel like she was not trying (or not willing)to solve the problem: she told me she would contact the landlord and got back to me but never gave me a call actually.

3. anyone familiar with the rental market or estate agent in reading, the procedure in renting a place seems very complicated: they separate letting team and property management team, also potential tenant will have to bid for the property and awaits landlord's approval? is it so? I came from manchester, been renting for a few years, never come across procedure like this.

Thank you in advance and any advice would be appreciated

lanren77

Sorry I didnt mention that the agent agreed a full refund of the holding deposit. just waiting for the money coming in.

the reason why I ask the holding deposit is that we found in Reading, landlord would list the property with more than one agent, so paying holding deposit doesnt mean anything. then why would agent charge that? the rental marketing is just a joke!

Reue

lanren77 wrote: »

3. anyone familiar with the rental market or estate agent in reading, the procedure in renting a place seems very complicated: they separate letting team and property management team, also potential tenant will have to bid for the property and awaits landlord's approval? is it so? I came from manchester, been renting for a few years, never come across procedure like this.

I'm from Reading and have rented here for years. This is the first ive heard of any 'bidding' for properties.

Unfortunately it does seem that demand out-strips supply in Reading with the exception of the total slum houses. Do you have to live in the Town itself? There are many beautiful villages on the outskirts, plus its an easy commute from Basingstoke, Didcot, Wokingham, Slough, Bracknel, Newbery, Thatcham, Theale, Burghfield, Etc.

lanren77

Reue wrote: »

I'm from Reading and have rented here for years. This is the first ive heard of any 'bidding' for properties.

Unfortunately it does seem that demand out-strips supply in Reading with the exception of the total slum houses. Do you have to live in the Town itself? There are many beautiful villages on the outskirts, plus its an easy commute from Basingstoke, Didcot, Wokingham, Slough, Bracknel, Newbery, Thatcham, Theale, Burghfield, Etc.

Hi thanks very much for your reply.

the thing is we viewed one flat, the agent told us the landlord asked for £800, if we can take it £25 per month higher than the asking price, should be fine, then the agent came back with a no, the landlord rejected our offer.

we havent got a car yet, and both of my hubby and I working in town, we both love peaceful and nice villages and plan to settle down in a village eventually but for now we will have to compromise .

Ive been to Reading a couple of times and already love this place