How Can a Glasgow Letting Agent Hold Deposit Back?
Depending on the rental property you are looking to rent, you may be asked to pay a holding deposit before you are accepted as a tenant. If you are, it is important to understand how you can get your holding deposit back. You should know how to negotiate with your landlord or letting agent to get the full amount back. If you are unsure of how to do this, speak to a representative from Citizens Advice. If you have no luck with your landlord, you can take your case to the Property Ombudsman.
Letting agents are a necessary evil when renting a property. They can be the most helpful and useful person if you find the right agent. However, there are some unscrupulous individuals who see this job as an opportunity to take advantage of people trying to find somewhere to live. Letting agents will often require tenants to place a deposit before they can begin viewing properties. This is done so that if something gets damaged during the viewing, they have recourse in order to repair it. The problem comes when letting agents can hold these deposits for extended periods of time with little or no explanation as to why.
For example: You’ve found a perfect house which has been listed by a letting agent – usually these are estate agents who also act as letting agents. After arranging an inspection, you sign the tenancy agreement and pay their fee, which includes your deposit (usually one month’s rent). But now you’re stuck waiting weeks – maybe even months – for your deposit back with no explanation why. Here we explain what you should do in this situation and what rights you have as a tenant that gives you more power than you might think…
Renting property in the UK
If you are planning on renting a property in the UK, you should be provided with a draft tenancy agreement and basic checks before you move in. The checks will vary depending on your location, but they can include a tenant’s credit history, proof of identity, and their ability to pay rent. The company doing letting in Glasgow can also conduct a referencing check. The results of this check may highlight any concerns that your prospective landlord has about you. If you fail, you may be required to provide a guarantor. You may also have to pay rent in advance or pay your holding deposit.
If you are a tenant who is looking to rent a property in England, you should understand the rules surrounding holding deposits. The law has changed recently, and you should be aware of the new regulations. Holding deposits can no longer be pocketed by unscrupulous letting agents. In addition, landlords who charge more than the legal limit are at risk of fines and civil penalties. They may also be criminally charged.
You should always make sure that you have a written agreement regarding the terms of your holding deposit. The terms should never be misleading. For example, if you pay a holding deposit that is only refundable when the rental agreement is signed, this could be misleading. If you find out later that the letting in Glasgow company is charging you more than the legal limit, you can make a complaint to the local council. You can also make a complaint to a trade body, such as the Association of Residential Letting Agents. If you do not get your deposit back, you can take your case to the Property ombudsman.
Before you make any arrangements to rent a property, you should take the time to research the local rental market. You should also ensure that you understand the risks involved. This includes identifying guarantors and checking that the property is available for rent.
You should never pay a holding deposit if you are unsure about your ability to rent the property. If the property is not available or you are not happy with the property, you should get the deposit back as soon as possible. You should also ask for a written explanation for why you were asked to pay the deposit. If you have no written explanation, you may want to contact your letting agent to find out if there is a legitimate reason for holding your deposit.