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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DEPOSITS – ONLY ONE WEEK LEFT TO SORT OUT PROTECTION

16th June 2015 By

Did you take a deposit before 6 April 2007?

If you still hold that deposit against an AST (including periodic tenancies where you have allowed the tenancy to roll over from month to month) then you must protect it before 23 June.

If you do not protect then you may have problems regaining possession of your property using a Section 21 and you are liable to receive a fine of up to three times the deposit amount plus the original deposit.

Companies that you can use to secure deposit protection:

Deposit Protection Scheme
www.depositprotection.com/
Tel: 0330 303 0030.
Or write to:
The Deposit Protection Service
The Pavilions
Bridgwater Road
Bristol
BS99 6AA

MyDeposits
www.mydeposits.co.uk/
Tel: 0333 321 9401
Or write to:
myDeposits
Ground  Floor,
Kingmaker House,
Station Road,
New Barnet,
Hertfordshire,
EN5 1NZ.

Tenancy Deposit Scheme
www.tds.gb.com/
Tel: 0845 226 7837
Or write to:
Tenancy Deposit Scheme (TDS),
PO Box 1255,
Hemel Hempstead,
Herts,
HP1 9GN

 

 

 

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