UK Landlord Forum / Life

Hi,

My tenants moved in on 28th Sept and they paid the letting agent promptly. Due to fees etc I didn't see a penny of that which I understand. The 2nd instalment was due on 28th Oct. After noticing I hadn't received a payment on the 6th Nov I contacted the estate agent who then contacted the tenants. As it turns out there was an apparent "mishap" and one tenant thought the other tenant had set up the standing order and to cut to the chase the standing order was never set up. I was told by the estate agent the tenant then paid the rent over the phone on 7th Nov and the money should be with me by the weekend 10thNov/11thNov. Having still not received a penny by 12th Nov I contacted the estate agent again who then said it should be with me by midnight Wed 14th. We are now on Friday 16th and I have still not seen a hapnee from rent that was due on 28th Oct ... 20 days ago. I understand that I am new and sometimes tenants are late on rent but I am not happy with how the estate agent has handled it and they don't seem to give a fuck. Should I just sit tight or do you think I should put in a complaint about the estate agent?

First things first... a mistake in setting up a Standing Order for the first real month of rent can happen... I've, indeed, had it happen with new Tenants... but they resolved it the same day. From your story, at least if it's definitely true that the Tenants have paid the Agent then you can kinda heave a sigh of relief, because you don't have non-paying Tenants... you, potentially, just have an inept, disastrously slow or fraudulent Letting Agent - that's a different kettle of fish.

No point complaining about the Letting Agent to the Letting Agent, really... but it would be good to get some clarity first-off - is the rent money definitely with them, and if so when did they get it (7th?) and what is their expected turnaround time for it to land with you (3 days?)? That should all, really, be contained within the Terms of Business you signed with the Agent.

Your closing remark is not fair on the Tenants or the Agent, because while you - as end recipient - see it as 20 days, you already have an explanation for some of that time, so it's more like 8 or 9 days, right?

Are we allowed to mention letting agents names? They are one of the bigger names in pretty much every town. I notified the estate agent on the 5th Nov that the rent was showing in arrears on their payment portal that landlords have access to. They contacted the tenants on the same day while I was waiting for a call back from the estate agent. They informed me the Nov rent was paid by card over the phone on the 7th and to allow up to 3 days for it to clear and come my way. We are now on the 9th day after payment and I still haven't seen a penny. If I am being a whining bitch then just say and I will shut up for the weekend 

Not a whining bitch, no... but a large Agent seems unlikely to run off with your cash... whereas a small one-man band, hmm... different story (potentially). It wouldn't happen with an Agent that has a (impressed) Portal! How fancy. I think it's worth getting on the phone again and asking someone to check their payments out. Once they can tell you when it left them (or if it has) then you can understand when it should land with you. I mean, my Tenants (which I self-manage) pay me directly and I receive the payment within around 15 minutes (due to Faster Payments) none of this 3 days crap that people in the 90s used to put up with.

You: "Hello, I'd just like to check on a rent payment?"
Agent: "OK, give me your details, please?"
You: "<details redacted>, and the rent was said to leave you on the 7th, and I expected it within 3 working days, but now it's the 16th, can you confirm it's actually been paid to me, or not?"

Paid = re-check where it was sent, and if correct details then check with bank.
Not Paid = kick up a fuss with the Agent, why hasn't it been paid, what are you clowns doing over there, I want to speak to a Manager... that kind of thing.

It's just money at the end of the day, innit? Not life-and-death.

You know, computers aren't actually stupid? Well, they are... in that they don't know how to do things, but they're not stupidly doing things, they only do what other stupid people tell them to do... Agents, on the other hand, Agents are pretty damn stupid. There's a very low barrier to getting in as an Agent - read no barrier.

I don't know if there has been some change in regulations over the years,but agents used to hang on to the rent for 3/4 weeks when I started out.I only use an agent for 2 properties now,and the rent appears in my account very promptly.Interest rates are so low now,there is no real advantage to them to keep the cash longer.Agree that the main worry is sorted,the tenant has paid up.

Quote from: argyle1987 on November 16, 2018, 01:06:27 PM
I understand that.....sometimes tenants are late on rent

That's wrong.  It's due on a date, no leeway given, section 21 issued to a tenant the other day for being late with the rent.