Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 3 weeks ago 48
I have let my flat via a London letting agent. They produced a very good Reference Report on a tenant through a Referencing Agent. The tenant paid for 6 months and then lost employment and hasn’t paid since.
We are taking the tenant to possession Court shortly. It turns out that the reference report was inaccurate in that she was evicted from her previous flat, was out of work when she moved in and it stated that she was in a highly paid job. Also the letting agent didn’t inform us at all that she hadn’t paid the rent for 3 months and we discovered this from our Bank.
We have taken the case to the Redress Ombudsman that they use and he concluded that the letting agent had done little wrong as they relied on the conclusion of the Referencing Agent. They offered us just over £100 compensation when the rental debt is currently well over £10,000. This seems unjust.
Any advise would be welcome.
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