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Tenancy Deposit scheme and the letting agent

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I have recently had the most unpleasant experience with a well known firm of London letting agents that I thought I would share.

Briefly an agent found me a tenant and then renegged on a verbal agreement to charge 7 per cent only as the original tenant had left after just six months.

The agent after relieving the teants of a 6 week deposit and a month in advance proceeded to use the money to payt themselves 1450 comission based on an 18 month agreement I never asked for.

On protest they substituted a 12 month agreement, but post dated to two weeks after the tenants moved in: the tenants have not paid me rent for that 2 week period.

Moreover the agents hav e used the monies they held to pay themselves a comission which had never been agreed and I only received 600 pounds.

On scrutinizing their management agreement which they impose on all their clients I note that it states that the deposit should be paid to the landlord.

Clearly 600 pounds in not a six week deposit.In my view, they have exceeded their powers in that they have utilized client funds to pay themselves instead of paying over the deposit to the landlord as they are supposed to do under the Tenancy Deposit scheme,

Does anyone have a comment or similar experience.I worked for solicitors as a financial director and certainly lawyers are not allowed to use client funds in this way.

In my view similar rules and procedures must apply as in the event of a dispute the landlord can simply turn around and say he did not receive the deposit from the agent!

I would add that the agent did not even bother to send me a copy of the rental agreement abd even post dated it to 14 days after the tenants moved in without my consent.

Please can anyone help me with this??

04/09/2008 00:00

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