UK Landlord Forum / Life

Hello

I am hoping somebody on this forum will be able to offer me some advice.

I recently let out my property and appointed a letting agent to do his, tenant signed a tenancy agreement for one year and moved into the property in June 2016.

I received an email last week (04/04/08) advising me that the letting agent has become insolvent and has gone into administration, furthermore the email stated that any monies that are owing is safe in separate client bank accounts and should be released in the next few days. I have since sent a couple of emails to enquire what is happening and have even called my letting agent on her mobile (landline does not work) and have left messages but no luck with any response to my emails or even my voicemail which I have left.

1. The email stated that any monies owing will be released in the next few days, I am obviously owed money but have received nothing to date how long should I wait?

2. My property is no longer being managed but my letting agent has already taken the management fee for the whole year, can I legally get the majority of this money back.

3. I am not sure whether my current tenant has been informed that my letting agent has gone into administration, but where do they legally stand? are they obliged to stay in the property or can they leave without giving notice? do I need to initiate another tenancy agreement?

4. I have reviewed the tenancy agreement for my current tenant and it is stated that any deposit paid by the tenant is protected how can I check this?

5. Now that my letting agent has become insolvent do I have to take over the management of my property? also I sent an email to my agent asking for all the relevant documents that they have on file for my tenant i.e. all the paperwork prior to the tenant moving in so I'm hoping I will get hold of this.

6. can I get some free legal advice on this issue if so who can I contact or even a number I can call?

I appreciate there are quite a few questions but any advice would be greatly appreciated.

Thank You

Quote from: SR007 on August 08, 2016, 08:05:59 AM1. The email stated that any monies owing will be released in the next few days, I am obviously owed money but have received nothing to date how long should I wait?

This is your call - how patient do you feel? I would be, at least, pro-actively talking to your Tenant about the situation, ease their concerns, ensure they know they won't lose-out, ask them to bear with you while you resolve things.

2. My property is no longer being managed but my letting agent has already taken the management fee for the whole year, can I legally get the majority of this money back.

You would hope this is the case... the service you paid for isn't being provided. However, consider the reason for wrapping it up... insolvency.

3. I am not sure whether my current tenant has been informed that my letting agent has gone into administration, but where do they legally stand? are they obliged to stay in the property or can they leave without giving notice? do I need to initiate another tenancy agreement?

No, the contract they have is with you, the Landlord - the Agent is just that - your Agent.

4. I have reviewed the tenancy agreement for my current tenant and it is stated that any deposit paid by the tenant is protected how can I check this?

Go onto each of the deposit protection sites and check the details, it's not too onerous. You should have, ideally, looked after this aspect yourself.

5. Now that my letting agent has become insolvent do I have to take over the management of my property? also I sent an email to my agent asking for all the relevant documents that they have on file for my tenant i.e. all the paperwork prior to the tenant moving in so I'm hoping I will get hold of this.

Yes. Unless you have another Agent ready to take the job on. You can't have a property that is not managed... well, you can, but you shouldn't.

6. can I get some free legal advice on this issue if so who can I contact or even a number I can call?

If you were a member of a Landlord's association, then you could.

Hi Hippogriff

Many thanks for the information much appreciated.

Hello SR007,

Your situtation looks similar to mine Agent gone into Administration. Hopefully we don't have the same Agent!!!

How far is the Agent in Administration is it completed and gone to court or frozen, If completed you can contact the Insolvency Office check which one is allocation on-line.

Your first step is to contact the scheme that the Agent is Registered with and contact them for advice, The schemes are Property Redress Scheme, The Property Ombudsman Limited and Ombudsman Services.

Have you received any rent on the property rental so far?

4. I have reviewed the tenancy agreement for my current tenant and it is stated that any deposit paid by the tenant is protected how can I check this?

There are three to check from DPS, My deposits.co.uk, & TDS

If the security deposit has not been protected you are responsible, it will be difficult to remove your tenants the court can award them up to 3x the amount as penalty.

Check the sites All Agents Reviews it could be revealing...