Deposit held by Letting Agents

[Mickey D]

We were expecting our tenants to move in this morning but instead got a call from the letting agents saying they had pulled out. We had signed the tenancy agreement and had been informed that the prospective tenant had payed a deposit to the letting agents.

My question is whether we would be entitled to this deposit as recompennse for the tenancy not going through?

Many thanks.

[mjpl]

It depends what the deposit was for. If the deposit was taken on your behalf against such an incidence then yes.

Often the deposit is taken as an assurance or at least a demonstration of intent. Many agents will specify that this deposit will be used as payment for costs incurred by the agent in setting up the tenancy and all the associated administration if the tenant pulls out.

[slick]

Agreed with mjpl. It can happen Im afraid.