Agent expenditure from Tenant Deposit - is it permitted?
Tenancy Deposits

SunnySkies
SunnySkies
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5 Posts
3 years ago
0

I have a new agent who has just let a property for me, but I will be registering the deposit in my own account under the custodial scheme. I have had to chase the agent re transferring the deposit to me for registration as I am already on Day 11 of the new tenancy. I have now received a statement which shows that they have used some of the deposit to pay part of their letting fees and the pre-tenancy clean. Is this permitted?
I will have to fund the shortfall between the amount the agent has paid into my bank and the actual deposit paid by the tenant in order to register the deposit within the required 30 days. The next rental payment is not due until November 14th 2020.
I know it will work financially out at some time, but I would like to know the legal position.
Many thanks in advance of your response.

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