mrsbaggins Posted May 13, 2014 Report Share Posted May 13, 2014 hi all, am new to this, obviously, and decided to rent out my property through a proper letting agency. All seemed well until recently and due to many problems I have gone with another agent as the original ones were not communicating with me or the tenants. I have asked the original agents via answerphone as they do not answer calls asking for them to let me know where the deposits are held and so far they have not responded. I have contacted two of the three places and they tell me its not them and the third I am waiting for. If it turns out they never put the money into a scheme where do I stand? I understand that legally I am ultimately responsible? Link to comment Share on other sites More sharing options...
Mortitia Posted May 13, 2014 Report Share Posted May 13, 2014 Go to the office of the agent and try to speak to someone. If all shut up then go and report theft/fraud to the police. If agent was a member or ARLA or NAEA then report it to them too. The Landlord is responsible for the deposit so you may have to use your own funds to pay it back - worst case scenario. Link to comment Share on other sites More sharing options...
Grampa Posted May 13, 2014 Report Share Posted May 13, 2014 The tenancy agreement if you have a copy can sometimes state which scheme the deposit is in. Your new agent should be advising you on a course of action and if not I would be very concerned on their abilities. Link to comment Share on other sites More sharing options...
mrsbaggins Posted May 14, 2014 Author Report Share Posted May 14, 2014 thanks for advice. the old agents now work from home its a limited company so think i will end up taking them to small claims court as this seems the only course of action but even if i win i am led to understand it doesnt necessarily mean i will get the money. big lesson learnt Link to comment Share on other sites More sharing options...
Mortitia Posted May 14, 2014 Report Share Posted May 14, 2014 Never let agents hold or protect deposits. This is the advice of a self confessed control freak. This way I never get ripped off by agents. Link to comment Share on other sites More sharing options...
Melboy Posted May 14, 2014 Report Share Posted May 14, 2014 Me too !! Totally in control of events. Link to comment Share on other sites More sharing options...
Grampa Posted May 14, 2014 Report Share Posted May 14, 2014 As a agent who holds a few quid of deposit funds I guess I have to disagree. Its all down to good and bad agents but the big question is how the novice landlords find them? As a rough guide a ARLA or Nals agent will have certain safeguards (i know as I have been members of both) buts its not foolproof but then that rules out all the good agents who dont belong. But whatever route a landlord decides I would say its best to go down the insurance based route to be able to hold the deposit funds and have more control. Link to comment Share on other sites More sharing options...
Melboy Posted May 14, 2014 Report Share Posted May 14, 2014 True Grampa..... but to the Newbie not knowing landlord they just follow what they are being told by the LA. Link to comment Share on other sites More sharing options...
Richlist Posted May 14, 2014 Report Share Posted May 14, 2014 Anyone can set up as a lettings agent......and anyone often does. Until there is regulation its always going to be the case and there are always going to be landlords (& tenants) who will be let down. It may be that in this case the agent is being awkward & obstructive because mrsbaggins has put the business with another agent......lets hope that's all it is. Link to comment Share on other sites More sharing options...
Grampa Posted May 14, 2014 Report Share Posted May 14, 2014 True Grampa..... but to the Newbie not knowing landlord they just follow what they are being told by the LA. Yes but they do have to take some responsibility for their actions and if they instruct a agent without doing any research they surely have to take some of the blame. It isn’t as if it’s the days without the internet all the info you would ever need is at your fingertips. Even if you are with a rubbish agent at the first questionable action it is easy enough to research. Link to comment Share on other sites More sharing options...
Melboy Posted May 15, 2014 Report Share Posted May 15, 2014 Yes but they do have to take some responsibility for their actions and if they instruct a agent without doing any research they surely have to take some of the blame. I would have to disagree with you on that statement Grampa.. If you pay for a professional service then that service must cover all aspects of what the service is offering in return for that payment. ( Company law ) There is no onus on the payee to expect anything less. Link to comment Share on other sites More sharing options...
Grampa Posted May 15, 2014 Report Share Posted May 15, 2014 I see what you are saying and where you are coming from and a lot of the problem stems for the lack of regulation in the industry. But surely you wouldn't instruct a builder to do major works on your asset worth 100's k without some sort of research or if you had legal problem that was say a complex freehold issue you wouldn't walk into the first high street solicitors office and hope for the best. I agree in principle to what you are saying but it is a fact of life no matter what the industry you can get good and poor service and we know solicitors can be included in that list so why should the letting industry be any different. Link to comment Share on other sites More sharing options...
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