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DPS Scheme question
fishpond
Posts: 1,022 Forumite
Hi
I have asked a letting agent to transfer one of my tenants deposits into my DPS account, as I am not sure they will re issue the PI when the AST moves to a periodic.,( not even sure they know they have to)
Do I need to inform the tenant of the transfer to my account from the letting agents?
Tried DPS on Fri, told to take legal advice.
I have asked a letting agent to transfer one of my tenants deposits into my DPS account, as I am not sure they will re issue the PI when the AST moves to a periodic.,( not even sure they know they have to)
Do I need to inform the tenant of the transfer to my account from the letting agents?
Tried DPS on Fri, told to take legal advice.
I am a LandLord,(under review) so there!:p
0
Comments
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What harm will it do to tell the tenants? Do so - it is their money after all!
Re-issue PI then you are covered.
I assume you are self-managing the property? If not, given your concern about the agent's competance, why not?
Letting Agents (Tips for selecting, and tips for sacking them)0 -
If your agent is holding the deposit as stakeholder he cannot transfer the deposit anywhere without the tenant agreeing to it.0
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Should have said --its custodialI am a LandLord,(under review) so there!:p0
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