t.d.s

[salavan]

dear sirs

i have had the same tenant for 6 years neither myself nor my tenant want to place the deposit with a third party (T.D.S.) could you tell me what my legal position would be if i continue to hold the deposit, i usally renew the tenancy agreement every year.

[Simon Dewsberry]

Then you MUST protect deposit ...either custodial or insurance .......or return it ti to T ....or use IG scheme ....or risk the repercusions

If you want to "hold" dep yourself (advisable!) then insure it :

www.mydeposits.co.uk

The Rodent

[heebs]

Then you MUST protect deposit ...either custodial or insurance .......or return it ti to T ....or use IG scheme ....or risk the repercusions

If you want to "hold" dep yourself (advisable!) then insure it :

www.mydeposits.co.uk

The Rodent

Hello Rodent

I signed up as a member as I wanted to insure my deposit via mydeposits but when i went to do it online it said that i cant insure deposits for rentals over £25k...now I am stuck...bought a membership and cant insure the deposit..wonder why the upper limit...any idea of a similar scheme where i can insure the deposit for higher rentals ..thanks

[Simon Dewsberry]

Hello Rodent

I signed up as a member as I wanted to insure my deposit via mydeposits but when i went to do it online it said that i cant insure deposits for rentals over £25k...now I am stuck...bought a membership and cant insure the deposit..wonder why the upper limit...any idea of a similar scheme where i can insure the deposit for higher rentals ..thanks

Yes ..upper rental limit for an AST is 25K ..more than this and you cannot use an AST ....as lease agreement is not an AST then it is outside the scope of dep protection rules ...and does not need protecting.

...but this has probably opened up a new problem for you ...as you dont seem to be awae of AST limitations...the next Q is:

What lease/contract are you using ?