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Property agent holding funds

(2 Posts)
tinkerbellesmuse Tue 22-Sep-09 15:09:42

Hi

Would be really grateful if someone could help with this.

We are about to rent out our house as living abroad and one of the things that the agents have asked us pay up front is the inventory checkout fee. This seems crazy since the checkout wont happen for at least 4 months due to the tenancy agreement and we would hope not for at least a year or two.

Seems a bit cheeky of the agents to have £160 of my cash sitting in their bank accounts.

I have queried it and the answer is that is the way it is and it helps us organise checkout in advance.

Seems dishonest to me but is it even legal??
Thanks

scaryteacher Wed 23-Sep-09 07:51:40

I didn't pay that when my tenants went until after they'd gone. Are you sure it's the inventory checkOUT fee and not the inventory that is done prior to the tenants moving in? I know we had to pay that.

If you are keeping a UK account, then there is no need for them to have the cash as with internet banking they'll have the money within three days anyway. I'd say I'd pay it when the tenants give notice and not before.

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