Concern growing over letting agency and clients' money

Concern growing over letting agency and clients' money

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There are concerns raised by a local Scottish newspaper regarding a letting agency in Scotland, following reports from tenants and landlords regarding rental monies and deposits not being paid or passed over by the agent, sometimes for months.

 

The paper confirms it has been contacted by a number of landlords and tenants. Landlords who claim money in respect of rent have not been received, and tenants that their deposits have not been returned.

 

One landlord has claimed that he hasn’t received any rent and the agent stated that they had not received the money from the tenant for six months. However, when the landlord approached the tenant directly, he showed evidence by way of bank statements, that the rent had indeed been paid to the agent.

 

The tenant also stated that he had swapped from one  property to another, and the agent was meant to transfer the deposit from the first property to the second. When he arrived at the new house, the agent demanded a new deposit  before they would allow access, their reasoning was that the landlord had not received rents for three of his other flats. The tenant had no choice but to pay up, with his furniture sitting outside on the street.

 

Key-Data Gold has a full accounting system, so that the agent can fully keep track of which rents have been paid and which are outstanding. There are a number of ways to chase for overdue rents, and they are listed by colour code to further highlight which rents are overdue by what period. Many accounting reports are also available, such as individual tenant rent books, overdue rent listings, rents becoming due in a given period, and so on.

 

 

There is also a full deposit management system, whichever scheme the agent operates, or whether held by landlord, with reminders for deadlines for moving deposits out at the start of a tenancy, and for moving funds back in after the end of the tenancy, whether deductions are to be made or not. There are also deposit reports, whether you operate insurance or custodial scheme, clearly showing which funds you hold, and which are with the DPS.

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