LuxuryNites Rights to your Tenants deposit. It's easy MONEY.

LuxuryNites (Lovis Gaultier) is an Estate agent who appears to have ignored the fundamental principles of the EAAB.

My experience started when LuxuryNites responded to my Gumtree Ad for a Professional Estate Agent to represent an overseas landlord and willing to work based on my specific Ad's requirements and the fee structure I required.

When I was satisfied they understood my requirements I signed a 12 month lease and all appeared to be going well. Each time a new tenant was found the apartment, I was informed, required between R15,000 - R30,000 of work before the new tenant could occupy. I'm overseas and had to defer to the professionals input.

At the end of the third lease I was contacted by LuxuryNites telling me I needed to repay the tenants deposit. I had never held a deposit and thus was puzzled why LuxuryNites didn't repay as they had done for the previous two departing tenants.

Upon further investigation I discovered LuxuryNites had used the incoming tenants deposit to repay the departing tenants deposit because they had used their team to conduct repairs based on the outward inspection and thus earned from the work, effectively using the deposit. When there was no further funds to access the issue surfaced.

I know for a fact (have invoices as proof) the tenants deposits should be kept in a separate interest bearing account, returned at the end of the tenants lease. I guess the smell of profit was to good to pass up.

Now that it's not possible to claim any compensate from the EAAB for an unprofessional Estate Agent. I can now only suggest avoiding them or have it in writing that LuxuryNites holds or doesn't hold the deposit.

Not sure how helpful they'll be in finding a new tenant when they cannot earn money from repairs. Choose wisely money doesn't come easily unless you're LuxuryNites.