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Property manager rented without a deposit. Is the manager liable?

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Hi there, I'm asking for a friend! Maybe somebody could help us.

 When my friend looked through the rental contracts of a property he has bought, he found that flats there were rented out for a deposit of only two cold rents. Which is annoying, but probably still permissible.

However, if you look at older rental contracts you can see that any deposit was being paid. Since the manager let the previous owner pay extra for each rental and since it is of course much easier to let a flat without a deposit, it is easy to imagine that someone could have taken the “easy way” to quickly obtain the premium for the rental.

My question is whether the manager would now be liable if a rent deposit should have been retained and thus reducedInsert other media any damage caused by the tenant. Is it not a gross breach of the duties of a manager to disregard the interests of the owner in such a way? What do you think?

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