Deposit being held by letting agent

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Good morning,

I'm hoping you can offer me some advice on an issue I have.

I rent out a single property and used a letting agent from the start on a fully managed basis. They found suitable tenants, arranged the contract and took a deposit of 750 from the tenants which they registered with TDS. Things were fine for a while but the agent's level of service started to decline so I decided to no longer use their services. I gave the required notice period, which has now ended, and am no longer under contract with them.

However, they are still holding on to the 750 deposit. TDS advised that I needed to register the deposit under my own landlord ID and send a copy of the certificate to the agent. I have done this but the agent is insisting that they also want to see a copy of the new contract between me and my tenants before they will transfer the money. Surely the new contract is none of their business as it is between me and my tenants. I suspect they are stalling so they can keep the money in their account for a little while longer.

Any advice you can give will be greatly appreciated. If you need any more information please don't hesitate to ask.

Regards,
Chris
09/03/2016 12:12

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