Agent Keeping the Upfront Rent
Letting Agents

yamje
yamje
0 Thanks
3 Posts
2 years ago
0

I am using a letting agent to find tenants. Service that I requested is only finding tenants but not managing the property. The letting agent just found some new tenants and the tenants have offered to pay a year's rent upfront as they are international students and have no guarantors.
The letting agent says that they get to keep the year rent and then will give me the rent monthly. I am not happy about this as the agent is not managing my house. Why do they get to keep the rent? What if they go bankrupt after 6 months and I would lose all my rent.

I would like to know if this a common practice that agent keeps all the rent and pay landlord monthly even though I am only using their finders service?

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