Is it legal for letting agents to hold on to advance rent paid by tenants?

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nnewby
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We currently have 5 student houses which are managed on a rent collection only basis by Haart. We regularly have rental arrears and then occasionally some of the students use their student loans to pay 3 months in advance but Haart insist that they cannot pass this advance rent on to us but only transfer it on the due date each month. So we have a situation where some houses are in arrears by 2 months and others are 2 months in credit (sitting in Haarts bank account), and meanwhile we have 5 mortgages to pay!!

Can someone please tell me where we stand legally, it doesn't seem right to me as the tenants are all on fixed contracts so surely any money paid during that fixed term belongs to the landlord??

Many thanks
07/01/2016 17:57

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