UK Landlord Forum / Life

We have our property let through an agent and we are paying an extra premium to them incase of the tenant not paying rent then we are guarenteed payment. However, the tenant has not paid a months rent and has now left the address. We got our rent from agent though due to paying a premium. Whilst at the address, the tenants have damaged items, Walls cupboards and thrown stuff out from the property belonging to us resulting in a financial loss to ourselves. The damage is going to cost in excess of £500 to start to put this right!!  
Is it right that the agent has kept the rent arrears (£450) out of the bond the tenant left and is giving us the bond balance of £100 towards the damage out of the £550 bond?

I think this is naughty??

Surely a large estate agent chain would have other provisions to recoup the rent arrears?

This has left me feeling disgusted and thinking that the agent only wants my extra fee!!!

Any help is going to be very appreciated.

Hello Craig
Did the agent send you a copy of the policy document? I am an agent as well as a landlord and any insurance policy, as this sounds to be, should be notified to the agent's landlord client, otherwise what was the money used for? Look in your paperwork to ensure tht the agent did use your money for the purpose you were told about.  Alan