Interesting deposit
Question
The deposit on my flat was over £900. I had the money in a high interest account and I'd like the agency to put it into an interest earning account so that I don't lose out whilst they've got my money. They're refusing to do this. Can I make them put the money into a different account?
Answer
By law your landlord, rather than your letting agent, is responsible for your deposit. You could discuss this issue with your landlord but they are not under any legal obligation to comply with your wishes. If they do agree, it's important you get any agreement in writing, and a receipt for the amount paid.
If you pay rent through an agency and you don't have your landlord's details you're entitled to know their name and address. If you request these details in writing, your letting agency has a legal duty to supply this information within 21 days.
If you need further help or information you can contact a local advice agency.
Updated: 27/07/2005
Question answered by Shelter
