We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Taking over deposit from agent
Options
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
-
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
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards