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Hello, I am a solicitor with over 15 years experience. I will try to help you with this.
If the agreement is for 12 months and hey have paid 5 months rent in advance I see no reason at all why they are entitled to get any of that back if they surrender their tenancy early.
To provide more detail. The tenants paid me £12440. They were supposed to pay me £19200 in total before moving in.
Is the deposit money with a deposit guarantee scheme or do you hold it? The deposit is different to the rent in that it is their money that you hold for them during the tenancy, usually against damage. It would probably be wrong to retain this as part of the rent dispute. Are you confident that you will be able to get new tenants in less than 5 months, If so you will come out of this ahead.
They recalled £6760 from their bank in China which is not right either.
The deposit is held in a scheme.
I hope to secure new tenants before the 5 months yes.
So you are saying I need to pay them back their deposit. The agent tells me I need to pay them back the deposit and £1040 on top.
If it is in a scheme then you will not be able to get it as part of this dispute. Do you know why the agents say that you should pay some back. Is there something in their agreement with you or in the tenancy agreement that would override the position in general law that I have stated.
no - I think the agent is trying to make some money from this situation.
they told me that I will have to pay the deposit back to them (the agent) too.
I do not think they will pay the tenants back....
Then if you want to hold on to the money.
yes, then what?
oh..sorry - so just hold on to it....
That would be the end of it.
but then the agent will refuse to pay me the funds of the new tenants
Legally, how does it work? What can they do if I refuse to pay them anything back?
How can he possibly do that? Is is our flat to rent and you have got a windfall, he will get a second fee why would he have a difficulty with that?
The new tenants pay him directly. He does not show me how much money is transferred into his account. He could just tell me that he did not receive all the funds yet...
so, in this case, you think all I need to do is refund the deposit only.
no need to refund anymore than that.
Yes that is correct. You don't seem to trust your agent very much, then again you know him better than I do. If he did that he would probably be committing a crime and wouldn't he have to pay soon any way?
I suppose so. Ok thanks for your help. Fingers crossed all goes well.