Tenancy Deposit Protection

Tozer

Notlob wrote: »

If an agent did not renew their membership of the TDS, then there will be a 90 day grace period before the deposit is unprotected. I see no reason why the same will not apply where the agent membership has been terminated due to non membership of an association.

Notlob

Thanks, but that isn't the position here. The Agents have been told that if they are not ARLA registered then they cannot secure deposits with TDS. Therefore, they have already been given notice back in December / January

tbs624

Notlob wrote: »

If an agent did not renew their membership of the TDS, then there will be a 90 day grace period before the deposit is unprotected. I see no reason why the same will not apply where the agent membership has been terminated due to non membership of an association.

Notlob

Cover categorically ceases on April 6:

"From April 6, only regulated letting agents and corporate and individual landlords will be covered by the Tenancy Deposit Scheme and cover will be withdrawn from unregulated agents. Tenants are advised to ensure their landlords have made alternative arrangements to safeguard deposits as soon as possible.....

The Tenancy Deposit Scheme will shortly be writing to all its members who are unregulated agents to inform them that they will have to make alternative arrangements to protect deposits when their subscriptions end in April. " My emboldening.

If, by 31 March a T has not been advised of the alternative arrangements by their LL or unregulated LA then they should write a recorded del letter, copying both in & retaining a further copy for their own records, asking for confirmation of the new arrangements. They can keep it polite and just tag on something along the lines of "I understand that a deposit can be registered quickly and easily online with either of the other 2 schemes and I look forward to hearing from you". That gives the LA/LL 3 working days to finalise things - & they have had plenty of prior warning from the scheme administrators.

tbs624

Tozer wrote: »

Yep you are right - it is periodic tenancy that I would want. Thanks for the clarification.

This is not my area at all. Always amazes me how beauracratic tenancy law actually is.

If you are legally trained you should have no probs interpreting Statute - and a Stat Periodic Agreement arises after a Fixed Term expiry courtesy of the Housing Act 1988, where the T remains in occupation and there has been no order for repossession by the LL and no signing up for a new FT.

Bureaucratic tenancy laws? ........ nah

Tozer

tbs624 wrote: »

If you are legally trained you should have no probs interpreting Statute - and a Stat Periodic Agreement arises after a Fixed Term expiry courtesy of the Housing Act 1988, where the T remains in occupation and there has been no order for repossession by the LL and no signing up for a new FT.

Bureaucratic tenancy laws? ........ nah

The point is I am a corporate lawyer. This is totally alien. It really is much quicker to ask on here than spend a long time researching stuff that I have no experience and very little interest in.

Extremely bureaucratic for everyday consumption. I have to say that the £275m joint venture I am setting up has not required me to interpret any statutes!!!!:rotfl:

Notlob

tbs624 wrote: »

Cover categorically ceases on April 6:

"From April 6, only regulated letting agents and corporate and individual landlords will be covered by the Tenancy Deposit Scheme and cover will be withdrawn from unregulated agents. Tenants are advised to ensure their landlords have made alternative arrangements to safeguard deposits as soon as possible.....

The Tenancy Deposit Scheme will shortly be writing to all its members who are unregulated agents to inform them that they will have to make alternative arrangements to protect deposits when their subscriptions end in April. " My emboldening.

If, by 31 March a T has not been advised of the alternative arrangements by their LL or unregulated LA then they should write a recorded del letter, copying both in & retaining a further copy for their own records, asking for confirmation of the new arrangements. They can keep it polite and just tag on something along the lines of "I understand that a deposit can be registered quickly and easily online with either of the other 2 schemes and I look forward to hearing from you". That gives the LA/LL 3 working days to finalise things - & they have had plenty of prior warning from the scheme administrators.

I have a letter from them that states "We are pleased to advise that mydeposits is continuing to support all letting agents, regardless of whether they are affiliated to a letting agent organisation or not." The letter goes on to state "If your Membership is not renewed for any reason, all fully paid deposits protected under your account will remain protected for a maximum period of 90 days from the date of your Membership renewal"

From what Tozer says, the 90 days has expired. However, it is interesting to note the contradiction in both statements by mydeposits.

Notlob

tbs624

Notlob wrote: »

I have a letter from them that states "We are pleased to advise that mydeposits is continuing to support all letting agents, regardless of whether they are affiliated to a letting agent organisation or not." The letter goes on to state "If your Membership is not renewed for any reason, all fully paid deposits protected under your account will remain protected for a maximum period of 90 days from the date of your Membership renewal"

From what Tozer says, the 90 days has expired. However, it is interesting to note the contradiction in both statements by mydeposits.

Notlob

Notlob - you are confusing the situation . TDS is The Dispute Service not "mydeposits" - "mydeposits" are TDSL /Tenancy Deposit Solutions Ltd.

It is TDS/their insurers who are refusing to take deposits from unregulated agents so whatever TDSL/my deposits say has no relevance here

Notlob

Tozer wrote: »

The point is I am a corporate lawyer. This is totally alien. It really is much quicker to ask on here than spend a long time researching stuff that I have no experience and very little interest in.

Extremely bureaucratic for everyday consumption. I have to say that the £275m joint venture I am setting up has not required me to interpret any statutes!!!!:rotfl:

:rotfl:
Would you rely upon advise given by someone on here about how to set up a joint venture!

Notlob

tbs624 wrote: »

Notlob - you are confusing the situation . TDS is The Dispute Service not "mydeposits" - "mydeposits" are TDSL /Tenancy Deposit Solutions Ltd.

It is TDS/their insurers who are refusing to take deposits from unregulated agents so whatever TDSL/my deposits say has no relevance here

No longer, thanks for putting me straight.

Notlob

Tozer

Notlob wrote: »

:rotfl:
Would you rely upon advise given by someone on here about how to set up a joint venture!

Absolutely not - but setting up international joint ventures tends to me a little more specialised than stuff affecting millions of people on a daily basis! :rotfl: :rotfl:

tbs624

Tozer wrote: »

Absolutely not - but setting up international joint ventures tends to me a little more specialised than stuff affecting millions of people on a daily basis! :rotfl: :rotfl:

Housing lawyers may disagree with you Tozer, grafting as they do at the "sticky" end of the profession. Your end's "only money" , innit?.:D