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Landlord quits deposit protection scheme!

2

Comments

  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 10 August 2009 at 6:34PM
    clutton wrote: »
    what tenants dont appear to realised about Mydeposits (unlike DPS which is free) - is that landlords have to BUY a subscription/joining fee to mydeposits, then buy a Tenancy insurance policy - which they then have to buy AGAIN every time a new tenancy agreement is signed .... it aint cheap .. and it encourages landlords to keep tenants on periodic tenancies

    it is perfectly legitimate to change names for whoever is to be held responsible for the deposit

    why doesn't OP go onto mydeposits and look for him/herself and put us all out of our misery ?

    It's not exactly free Clutton if you have to place the deposit with them you pay (lose) the opportunity cost of capital which in savings bonds is currently about 4.25% PA. I pay a fee (as a member of the NLA) of £27 but as my average deposit is well over £1,300 yen that opportunity cost is higher, especially when you consider that my tenants tand to stay on with a periodic contract
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • clutton_2
    clutton_2 Posts: 11,149 Forumite
    ""It's not exactly free ""

    Chuck-- dont be so nitpicky - you know exactly what i meant - there is no fee to deposit monies with DPS - there are 2 fees to be paid for the first deposit with mydeposit and another fee on any renewal of the AST and higher fees once you register more than 4 deposits per year
  • Trollfever
    Trollfever Posts: 2,051 Forumite
    mcbob wrote: »
    According to this looks like they've breached the rules in some way; either not paid or been declared bankrupt! Reading this makes me even more concerned!

    The only way you can check businesses or people for CCJs or other court records.
    Why search:
    • Businesses: Have unhappy customers sued them?
    • Other people: Have they refused to pay what they owe before?
    • Trust Online gives access to the OFFICIAL government register - and more

    http://www.trustonline.org.uk/
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 11 August 2009 at 8:27AM
    clutton wrote: »
    ""It's not exactly free ""

    Chuck-- dont be so nitpicky - you know exactly what i meant - there is no fee to deposit monies with DPS - there are 2 fees to be paid for the first deposit with mydeposit and another fee on any renewal of the AST and higher fees once you register more than 4 deposits per year

    It's not 'nitpicky' Clutton and I'm certainly not having a go at you. I only mentioned it so others that use deposit protection schemes might realise it's not really 'free' in the full sense of the word. In my case the opportunity cost (lost interest) is more than their fees, that's all I am saying.

    Anyway time to walk my faithful labrador.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Trollfever wrote: »
    http://www.trustonline.org.uk/

    I might be being stupid, but I couldn't see how much this service is for doing occassional checks (rather than being an ongoing customer) does anyone know?
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • clutton_2
    clutton_2 Posts: 11,149 Forumite
    £8 per search
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    clutton wrote: »
    £8 per search

    Thanks Clutton, after having to take an ex tenant to court last year I am keen not to have to go through the process again and have of course realised in the past I have not been diligent enough when it came to vetting prospective tenants.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • MissMoneypenny
    MissMoneypenny Posts: 5,324 Forumite
    edited 11 August 2009 at 11:15AM
    clutton wrote: »
    £8 per search

    £8 per section and you might need to search more than one section, although they seem to be offering discounts for this.

    "The fee for a search of the England & Wales Register is £8 per section - you just choose the sections which will help you. You can easily search across multiple sections or registers if you need to (e.g. if a limited company operates in both Scotland and England). There are discounts for doing so. Two searches cost £16, three cost £20, four cost £25 and five or more cost £30."
    http://www.trustonline.org.uk/search-others/

    Thanks for the link Trollfever.
    RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
    Read the sticky on the House Buying, Renting & Selling board.


  • clutton_2
    clutton_2 Posts: 11,149 Forumite
    this could be a cheap way for tenants to get their own recent no-CCJ records to show to a private landlord by way of referencing themselves
  • MissMoneypenny
    MissMoneypenny Posts: 5,324 Forumite
    clutton wrote: »
    this could be a cheap way for tenants to get their own recent no-CCJ records to show to a private landlord by way of referencing themselves

    Also a good way for tenants to check on landlords, before renting from them.
    RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
    Read the sticky on the House Buying, Renting & Selling board.


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