Sep 27,2012
By: 'Hankybargo'
Sep 27,2012
6 people found
this helpful
Orlando Reid are in the business of holding tenant\'s monies before even consulting their client\'s with offers. A quick Google search indicates that a holding deposit is to secured a property once an offer has been agreed in principle, subject to reference checks, deposits etc.

I fully appreciate the merits of a holding deposit. I object to it being a used as a tool to \'hold\' prospective tenants before they (the agent) has even consulted their client. To be clear, it is NOT a tool for the agent to line up his ducks, so to speak, until the landlord has come to a decision as to whom they will let the property to. Orlando Reid tell me that I paid a \'Reservation Fee\' - same thing in my opinion - and this was not explained to me (if true). The fact of the matter is I paid money (£500) in good faith tying me into a contract which was completely one sided. If I chose to pull out (I had no intention of) then I would lose my money. However, Orlando Reid took my money and then left me 2 days waiting for an answer. Clearly this practice only favours the Landlord and Agent. I then had to chase them, leaving messages (none of which were returned) and finally on my 5th attempt got through to someone who told me my offer had been rejected. I then had to chase for my money to be returned - which it was.

Furthermore, by being \'held\' in this state of limbo I was unable to move on other properties. The lettings market is a fast one at the moment and time is of the essence - I devoted a weekend to searching for a flat and the other properties I may have made an offer on are now gone. Orlando Reid not only tied up my money but my time by their unprofessional conduct.

Admittedly I was naive and, with the benefit of hindsight, should have asked that my offer be accepted in principle before putting money down. As a consumer though you shouldn\'t have to be one step ahead of the game - there are plenty of laws out there to protect us against this, however, the law on holding deposits is unclear and certainly one, from my experience, which needs clarification.

I have in on good authority too that this is not how reputable agents operate, even though Orlando Reid telling me this is company practice and with 11 years in the industry see it as common practice.

Be warned.
What agent could do to change your mind?
The Orlando Reid should have had my offer accepted in principle by the Landlord before taking my money as a \'Holding Deposit/ Reservation Fee\' If you take a applicant\'s money be sure to keep them a drift of progress and return their money promptly. Do not leave it for them to chase you for an answer. Had I have been updated promptly, I perhaps would not be so aggrieved as to how you handled this matter.
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By: hankybargo
Sep 18, 2013
I would be happy to deal with this though the Property Ombudsman if you'd prefer? You clearly feel that a response 11 months later is warranted or is this you trying to clean up your image and cast aspersions about me??! And of course you know who I am, I filled out all the forms, gave you my references, employer etc. These are not malicious lies (emails confirm). I am just highlighting what Watchdog picked up on this evening. It happened to me! You took £500 of my money and tied my hands until you went back and forth between the Landlord, me and the other prospective tenants to get the best deal. I couldn't get out as you'd tied me in saying if I pulled out I'd loose my money! FYI I didn't turn down the offer. The landlady chose the other tenants because they could move in two weeks earlier than me. (Check your emails - I still have them) This is not about winning it is using the power of the web to warn others and hopefully make you realise you can't get away with this practice.
By: Thisisincorrectinfo
Aug 16, 2013
This is not in the slightest bit true. You were told that there was another offer from someone who had seen the property before you and had offered after you, you were given first refusal but turned down the landlords offer of a higher rent which the other tenants were happy to do. Orlando Reid did not go back to the other tenants until fully dealing with your offer and you refusing the lanldords offer. You also SIGNED a document outlining the full code of practice so were aware of how we operated (not how you have suggested) before paying any money.
You were given a full refund and an apology on numerous occasion despite Orlando Reid not actually doing anything wrong but as a gesture of good will and as we generally do not like to leave any tenant unhappy.

Orlando Reid did everything they could to rectify this situation but you were not accepting any of it, you were angry you missed out on a property due to THE LANDLORDS terms and decided to blame the agent.

I would also like to point out that the agents who's name you have attached to this thread was an apprentice at the time and although she showed you the property, she was not responsible for the handling of your offer in any way, she did not negotiate offers at the time nor would she have contacted the landlord or other tenants. This is slander and something that could affect future job prospects and something she is considering taking up legal proceedings in regards to

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