Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 3 weeks ago 48
My old letting agent found tenants for a flat I own in Feb 2015 and at the time was led to believe by the agent that they would protect the deposit. I have spent the last year trying to get proof of this or get the deposit back from the agent with little or response at all.
I have been in to see them on several occasions over the past year and sent at least 6 emails with details, including details of our discussions when I have been to see them (to give me an ongoing written record). In person they are always full of false promise that they will either protect the deposit or return it to me (so that I can protect it as I am required as the Landlord), however they have not once replied my emails regarding this, even though having confirmed verbally that they have received them.
I now believe this is a rogue letting agent, which I will no longer be using, they are still trading as a letting agent.
To make matters worse, my tenants have stopped paying the rent so will need to serve them a section 21 notice over the next couple of weeks. Should I protect the deposit with DPS from my own pocket before I serve notice, even though I haven’t actually received it? My main concern is being able to legally evict the tenants rather than the deposit itself.
What are my options please? The deposit is £650.
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