Must the letting agent hold the deposit, or can the landlord?

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R
Richie
97 Posts
3 Thanks
I recently used a tenant-find-only service from a lettings agent (it was away from my main location), and they absolutely insisted that they (the agent) must hold the deposit in their scheme, even though I gave them details of my own MyDeposit account.

They refused point-blank to hand over the funds for me to protect, even though (1) they would have nothing further to do with the tenancy until it ends and (2) they have no reason to protect my interests when it comes time to check-out the tenants.

Is their stated position correct? MUST they hold onto the deposit even as tenant-find-only agents?

What is the process and implications if I want them to hand it over now (or is that not possible)?

Thanks!

14/10/2008 00:00

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