Tenancy Deposits and agent default
Regrettably, it wasn't, neither would it appear was it lodged in a dedicated client account with that agent. The franchisee has gone into liquidation and the tenant now requires the return of the deposit. The liquidator says there is no money to distribute and the national franchisor says that it is not their concern.
Am I as landlord responsible for payment of the deposit to the tenant and, more importantly, could I be required to pay the 3 x penalty for the deposit not having been protected?
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