Lettings Agent taking too long to pay me.

[Velvetee]

I let 2 properties and use a Letting Agency to manage them, as I don't live in the locality. Both tenants pay their rent to the lettings agents on the first of every month, but the money never reaches my account until around the 12th of the month.

Does anyone know of any reason why it would take more than 5 working days to get to my account from the agency's account? Are they sitting on my money for a few extra days to earn a bit of interest?

[Velvetee]

I don't want you replying to any of my questions, because you know nothing, except how to insult people. So in future, don't bother. I don't think I am stupid to ask a question, so how dare you infer I am, you are just a nasty, spiteful piece of work. Go get a life.

[Velvetee]

We have all established here, that you are suffering from a Narcissistic Personality Disorder, so I will just ignore everything from you, from now on. You have a mental illness, so there is no point getting into debate with someone, who evidently does not know what they are doing or what they are saying.










NGTFTH

[Eve]

Maybe they transfer monies in bulk or use the BACS system - takes three days but free as opposed to CHAPS which they would have to pay for. Monies only transfer on working days so maybe adds to the delay.

Maybe they do a standing order but need to check all the monies are in with enough time to cancel the standing order if they are not.

I guess maybe it comes in on the 1st then they do their checks to make sure everything is in the next working day with enough time between then and the next payment to stop any standing order if the rent has not been paid.

If the tenants pay by cheque then it would need up to 5 working days to clear.

I'm sure if you ask them they can let you know how they do it.