DEPOSIT PROTECTION

22nd July 2017 By

The TDS (Tenancy Deposit Scheme) has launched a Code of Recommended Practice. Interesting reading even if you use a different deposit protection company.

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WHAT SHOULD YOU LOOK FOR BEFORE USING A LETTING AGENT?

14th February 2017 By

Most letting agents and property management agents are honestly trying to do their best for landlords and tenants whilst running their businesses.  Unfortunately, as recently highlighted on the BBC, there are some rogues out there who let everyone else down.

Before taking on an agent ask:

  • Do you know someone who has experience with this agent? Ask them for the good and bad news
  • Does the agent belong to one of the government’s three redress schemes (a requirement since October 2014 and £3,000 fine for not having joined one of the following)? The information about which scheme is used should be clearly displayed.  Don’t be afraid to contact the appropriate body to ensure the agent is a current member.
  • Are the fees charged by the agent clearly displayed as required under the Consumer Protection Act 2015?
  • Does the agent hold Client Money Protection Insurance? Not a requirement yet but due to be brought in.
  • What Deposit Protection Scheme does the agent use? Again don’t be afraid to ask the scheme provider for confirmation.
  • Deposit Protection Scheme
  • MyDeposits
  • Tenancy Deposit Scheme

 

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