Responsibility on Tenant Deposits

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R
REALITY HOLDINGS
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We have leased our property to a letting agency for a period of 3 years or more with a licence to sublet for use of residential purposes. We have not accepted any deposit from the lessee or tenants, but tenants have paid deposits to letting agency. We are now facing a strange situation. The letting agency has surrendered the lease after its expiry and we have started managing on our own. During his lease period, he had accepted a deposit from tenant which is not deposited by the letting agency into DPS and neither he has handed over the deposit to us. We are arguing that we are not responsible. Are we right in our arguments?
28/06/2013 12:14

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