Possible new tenants to view property which you are renting?

G_M

JohanDij wrote: »

When I called the phone number of the deposit scheme, my question for them was if deposits with them were considered "protected" (I'm not even sure of what this means) ......

The relevance/importance of protection is that the money is held by 3rd party.

In the bad old days when a LL or agent held the money, at the end of the tenancy they could (and many did) refuse to return it to the tenant for spurious reasons (eg "you refused to let me come in whenever I wanted while you were out....!!). The tenant's only option was to go to court which for obvious reasons many tenants did not want/could not be botrhered/could not afford to do.

With the deposit held in a 3rd party scheme, when the tenancy ends, the LL/agent either instructs the scheme to return the money to the tenant OR has to give a reason to the scheme why some or all of the deposit should not be returned to the tenant and should be given instead to the LL/agent.

In this latter case, the scheme does not simply give the money to the LL/agent. They first contact the tenant to ask if they agree (ie "the agent says you broke the bed and wants to keep £200. Do you agree?") If the tenant disagrees, then there is an arbitration process.

So the balance of power shifts from being with the LL/agent who used to hold the money, to a fairer system where neither party controls the money but a 3rd party scheme resolves disputes.

The option of court still also remains.

JohanDij

clutton wrote: »

in that case i re-refer you to my post 41 !!

Where can I find your post 41? The 41 on this thread was mine, I guess must be in another thread?

Sorry I'm not used to forums.

clutton_2

sorry JohanDij - i made a typo its actually post number 44 as follows

"" i would write a very short note to the LL and say that until such time as they provide proof that the deposit is protected as per the 2004 Housing Act, you are cancelling all further viewings......""


G_M is almost correct


Deposit Protection Scheme DPS - the LL pays the deposit monies into the DPS bank account and DPS pay the tenant back at the end of the tenancy

With Mydeposits - the LL pays Mydeps to register the deposit and the LL keeps the tenants money in his/her own account. If there is a dispute at the end of the tenancy.. the LL is expected to lodge the undisputed amount with Mydeps imnmediately while the dispute is arbitrated......

I used to use DPS - now i use Mydeps

dizziblonde

Are this letting agency trying to get to Australia on the cheap? They seem to be digging deeper and deeper into a hole everytime I come back on the thread!