Dh and me let out a property through an agent. He took the deposit from the tenants to keep it "safe" (before 6.4.07 so not part of the tenancy deposit protection scheme). Now he has apparently absconded taking the deposits with him.
The tenants gave the money to him so have they lost the money or is it us as landlords?
The tenants have been good ones so we're thinking of saving the management fee we would have given him in a separate account until we have the full deposit to give them back (£475 - will take about 8 months to save). But are we legally liable as landlords for this money?