letting agent holding the rent????

fart

Ask for the terms of the contract or the act of parliament which states what they're telling you is factual. Once they cannot, serve notice of court action if funds are not received within an acceptable time frame, say 21 days. You can take anyone to court for like £50.

rpc

You have a copy of the contract so why the need to ask them what it says? Read it yourself and if this isn't covered then simply tell them that.

There must surely be some clause that relates to them paying over monies - quote that at them and make them follow it.

DaftyDuck

I'd be a little worried about the stability of said agency. At todays interest rate, there is little interest to be made, so why would they bother?
On the other hand, they might need the capital sum to use.

Oh, and what happens if agency folds? Tenant has paid rent, just you haven't got it.

I'd demand they pay it immediately, and in full. The 6 month rent is in lieu of passing credit checks etc. You run the added risk, not the agency.

Go kick some bottoms!

ognum

Get free half hour with solicitor, take contract, get solicitors letter sent demanding the money!

jayss

Do you want a tenant who can't pass a credit check without a guarantor?

Agree about worrying about the stability of the agency, 2 that I've let through have gone under in last couple of years.

fart

ognum wrote: »

Get free half hour with solicitor, take contract, get solicitors letter sent demanding the money!

Also don't forget to charge them for your expenses including time. They would do it to you if they had to waste unnecessary time sorting out something that wasn't their fault, so you should do it to them. Your time and effort putting right their incompetence isn't free.

princeofpounds

Agree with the comment on the potential instability of the agency.

Another possibility is that there never was a 6 month payment in advance, they just said that to get you to approve the risky tenant and make the letting with minimum effort.

molly22

Surprise surprise, can't get in touch with the LA. Will report back as soon as I do

Guest101

Can you not just go down to their office?

Have you sent the letter?? Notice before action?

molly22

I finally managed to contact the agent, he apologised for not getting back to me but offered no real reason.

(I'm not 100% sure that i ever signed the contract.)

He says he has to keep the rent monies, because
1. i might spend it
2. i might evict the tenant
3. because the tenant didn't meet his credit check criteria, set by his company.
he never asked me if i would accept the tenant without passing the credit check.

He has also registered the deposit in his account of 'mydeposit' when i specifically told him at the outset, i had my own account with 'mydeposit'.
He tells me he has given the prescribed information to the tenant, and i now have to get the tenant's permission to re register the deposit in my account.

He got quite shirty on the phone with me.
i even told him i would prefer him to give the advanced rent monies back to the tenant, but he says he cant do that either, and why would i want him to when he will forward the rent to me each month.

I am off to visit the tenant tonight to check if they are ok for me to move their deposit into my account.

As regards to the rent, am i best leaving it with the agent to be sent to me each month, i dont want to get in a mess, but i hate him thinking he can make decisions re MY property?

very frustrated
:mad: