What if my letting agent holds the deposit but goes out of business before the end of the tenancy – I have heard that I would be liable to repay it to the tenant?

November 3, 2014

What if my letting agent holds the deposit but goes out of business before the end of the tenancy – I have heard that I would be liable to repay it to the tenant?

In principle that is and always has been correct – you are responsible if your agent defaults. An advantage of the new regulations is that if your agent holds the deposit, they must belong to one of the insurance schemes, which will pay out if they don’t

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