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Taking over deposit from agent
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deepam
Posts: 140 Forumite
Hi,
I have tenants in my property but I am getting rid of my agent to manage the property myself. The deposit is currently held in a deposit scheme organised by the agent. But now I have to take over. I have few questions
1. I was looking at TDS (https://www.tenancydepositscheme.com). Is this what I should be looking at?
2. TDS have two schemes 'Insured' and 'Custodial'. Insured means I pay TDS £24 and I hold the deposit and in custodial TDS would hold the deposit. Any advice which one should I go for?
3. Does anyone know what is 'My Deposits'?
Thanks
I have tenants in my property but I am getting rid of my agent to manage the property myself. The deposit is currently held in a deposit scheme organised by the agent. But now I have to take over. I have few questions
1. I was looking at TDS (https://www.tenancydepositscheme.com). Is this what I should be looking at?
2. TDS have two schemes 'Insured' and 'Custodial'. Insured means I pay TDS £24 and I hold the deposit and in custodial TDS would hold the deposit. Any advice which one should I go for?
3. Does anyone know what is 'My Deposits'?
Thanks
0
Comments
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Since you already have tenants and the deposit is protected, you simply take over the existing registration.
1 -
I don't think I can't do that. The agent tells me that I have to produce a certificate and they would transfer the deposit. As I understand, I will have to open a account with TDS to do thatgreatcrested said:Since you already have tenants and the deposit is protected, you simply take over the existing registration.0 -
No. Where is the deposit now?deepam said:
I don't think I can't do that. The agent tells me that I have to produce a certificate and they would transfer the deposit. As I understand, I will have to open a account with TDS to do thatgreatcrested said:Since you already have tenants and the deposit is protected, you simply take over the existing registration.
Either you tell agent to send it to you, and the protection schemes simply amends their contact details. (and you pay the cost for insured)
Or if it's custodial, simply change details.
Thats it.2
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