deposit protection scheme

baron777red

i rented out my house using a letting agent, and the 6 month agreement for the tenant is ending in january, and i have decided to terminate the agent and get the tenant to sign a new tenancy agreement.

i have spoken to the tenant and he is in agreement with me, but his deposit is being held in a deposit protection scheme

i understand that the scheme needs to be changed into my name, but do i need to get the details from the agent or can the tenant change the name on the DPS

can i insist that the agent hands over the gas inspection certificate and all references and credit checks that were done before they moved in.

i will probably go to the RLA or similar body and pay for a new AST and other forms to enable me to set everything up myself, unless anyone can recommend a good site to use


thanks

colin

G_M

First, read your contract with the agent - what notice do you need to give? What commitment did you make when you signed?
Second, The deposit is YOUR responsibility, not the tenants. Contact the relevant scheme and get the agent's name replaced by yours.
Third, are you sure you want a new contract with the tenant? Why not just let the existing 6 month contract continue on a periodic basis?
Fourth, if you don't understand point 3) are you sure you know enough to take over?
Fifth, have you joined a landlords association? You'll get lots of help, information, discount insurance, access to contracts, lawyers etc. And it's tax deductable.
Sixth, the documents the agent holds are yours. The agent was just that, an 'agent' for you. Whatever they did and whatever paperwork they hold, they did/held for you. It's yours.
Seventh, oh, I could go on for ever!

baron777red

hi i have to give 2 months notice to the agent which i did on the 10th nov, (6 mths expires 10th jan)
i could carry on without signing a new TA but i want to make it a fresh start for me and the tenant, and i have promised him i will fix the rent for 12 months
i havent joined an association, but think its a good idea, so i will join the RLA
thanks for the advice

G_M

As you say, a new 12 month contract gives both parties security (of home / rental income respectively) though it removes flexibility (if either party wants out). I was merely suggesting a way to get around the new contract work.

Best of luck! (oh and check out landlordzone and forum if you haven't already.

baron777red

i know i understand what your trying to say about the TA, but i think i have got quite good tenants, they are an elderley couple, who have moved from middlesborough, and have said theat they love the house and area and want to be there for a very long time.

im also quite happy because they have spent quite a lot of their own money decorating and making minor changes to the property which i am fully aware of and ok with,

so as a goodwill gesture i have agreed to fix the rent for 12 months.

i will check out landlordzone thanks

tbs624

baron777red wrote: »

i will probably go to the RLA or similar body and pay for a new AST and other forms to enable me to set everything up myself, unless anyone can recommend a good site to use

G_M has given a good reply to your key points. My only addition is to suggest that you also have a look at the NLA ( which is the largest of the national LL associations) and Tessa Shepperson's excellent LandlordLaw site. Tessa is a LL& T specialist solicitor and, as with the LL associations, membership fee is tax deductible and gets you discounts on some LL insurance premiums.

AFAIAA if you are asking the T to sign a new AST then you/the LA will need to release the deposit and then re-protect it. If the tenancy continues as a statutory periodic after the fixed term expiry then this will not apply.

Good luck - it sounds as though you have great Ts and that you are a decent LL.

baron777red

thanks TBS, about the deposit, who can withdraw this from the scheme? can i do it if the LA gives me the details, and if i need to put it in another scheme, are there any that are free of fees

thanks

mlz1413

just an additional thought, if you do a new contract then do a new inventory that you and the T's sign.

if they make changes ensure you put in writing to them what you have agreed to and keep it with the inventory so that at check-out time there are no disputes.

G_M

baron777red wrote: »

thanks TBS, about the deposit, who can withdraw this from the scheme? can i do it if the LA gives me the details, and if i need to put it in another scheme, are there any that are free of fees

thanks

Full details of the schemes, including costs, can be found from the link I gave in post 2.

Re current deposit - contact the relevant scheme to check the procedure. Again, contact details via the link above.