Where do I stand? - Renting

[Xire]

Hi guys,

Im in a little bit of a predicament.

Last night I went and viewed a 3 bed property to rent, that same evening I told them I would be willing to put a deposit down so they sent me the following email:

Spoiler

Dear ******,

Thank you for your interest in the above property, in order to secure the flat and take it off the market we would require 2 weeks holding deposit totalling £700 (£350 per week).

Once we receive the holding deposit we will secure the flat for you subject to referencing etc.

Please note that the holding deposit will be used towards your rent, it is not an additional fee.

Please could you on reply confirm once the payment has been made and supply us with the following below details:

1.) Full name of all tenants
2.) Current address
3.) Contact phone number for all tenants
4.) Email address for all tenants

Once we receive your holding we can proceed with referencing etc and send you a holding deposit form.

Our details for the deposit are as follows.

Bank: ******
Account Name: *******
Sort Code: ******
Account Number: ********
Your Reference: ******


Kind Regards

So I have paid the “Holding deposit”. This morning I got the following email:

Spoiler

Dear ********

Thank you for your email,

I have spoken to the landlord, he has advised me that he has a few offers for the property and will be deciding which one to accept.

Could I ask you for the below information so I can put it forward to the landlord which should help the decision.

1.) What date would you like to move in
2.) Please list all your furniture requirements
3.) Please list any other requirements you would like to ask for
4.) Please advise your best offer in regards to rent

I look forward to hearing from you and once I have the information I will be speaking to the landlord.

If you want to speed up the process, I am happy to start referencing for you before we have the landlord’s decision, kindly send us the below information so we can start referencing you for the property, you can send us scanned copies if you like.

• Photo ID
• 2-3 Months bank statements
• 3 Months Pay slips
• Previous Landlord/agent details and reference
• Current Employer details and reference
• Your Job position

If you are self-employed, then please send us your last set of accounts filled, and some references if you can.

Once we receive the above information it should take a few days to sort all things out, then it will be up to the landlord.

So I have sent all this stuff off, thinking great, should all go down well. During my lunch I decided to jump on rightmove and just have a browse as a backup plan and I see the exact same house with £100 more PCM. The agency had not contacted me telling me this or asked if I would increase the offer (I offered asking which was £100 less than it is now) I have just rung the agency and was told “you will know at the end of the day” without me even discussing if I would move on the offer. I would be willing to up my offer by £100, but feeling a bit hard done by. Surely with me giving them a deposit, this is on the basis of the asking fee agreed? Although I have yet to sign any formal documents which makes me feel like I have no say in the matter.

Any ideas what I should do?

 

[TommyV]

Estate agents are all the same, going through the house buying process (chain closed yesterday ) as we speak, and it soon becomes evident.

 

[tom_e]

Deposits handed over before anything is signed are basically free money for the agent and you should be prepared to kiss it goodbye.

 

[iamtheoneneo]

Dont send them any documents for referencing if they are unsure your going to be even accepted on the property.
Thats them pulling a fast one.

Either way nothing you can do about the situation, estate agents are *****.

 

[Hades]

It's pretty standard tactics unfortunately. If you want the property then reply with the information they have asked for. If you really want the property then take the initiative and offer the extra £100 even though they haven't asked for it. Someone else probably has already.

 

[geuben]

I moved recently. I was pretty nervous about handing over a chunk of money has a holding "deposit", granted I never found the property listed at a higher price and the agent didn't say there were other offers.

I made sure to get the to send me an invoice before I paid, stating clearly all the terms of when the deposit would and wouldn't be returned, ie if I back out or if the landlord doesn't except my offer etc.

If you didn't get an invoice or even a receipt then be worried.

 

[Hodders]

Also be aware that they will often charge a fee for referencing far in excess of what it costs them. I'm guessing that they will reference everybody making a tidy packet.

It sucks when this happens - try to find a property direct with a landlord as it is often cheaper and far less hassle.

 

[Haggisman]

Although you don't have anything solid in writing stating the money you paid was for the holding deposit, I would say based on the evidence you have, if they decide to try and keep your money you'd have no issues getting it back via small claims (although IANAL).

Obviously that doesn't help you get the house, but at least you won't be out of pocket.

We had an agency do similar to us a few years back. Viewed a really nice house, and went straight round to the agency about 10 mins walk away and paid a holding deposit.

A couple of hours later we got a call from them: "someone else has offered above the advertised rent and we've accepted, so please come and get your holding deposit back"... to say we were livid is an understatement. I doubt we'd get a penny of it back if we'd been the ones to pull out because we'd found somewhere cheaper!! Not to mention we'd given the notice on our current place in the interim, so it put us under pressure to find somewhere on short notice....

TL;DR: Letting agents are scum, never forget that when you're dealing with them, or you'll get ripped off.