TDS

[Annie Ruk]

I originally used a lettings agency to find my tenants, check references and collect deposits. I wrote to them recently, after no contact with for 5 years, asking them to release the tenants deposit so I can put the money in a TDS. I have not heard from them. How can I get them to release the money so I can fulfill my legal obligations?

[Mortitia]

Well, you should go there or phone and see if they still exist! No contact for 5 years sounds a bit odd. The fact you have had not reply is VERY suspicious.

Get back to us with your results.

Mortitia

[Trenners]

Hi,

I agree with Mortitia that it sounds suspicious and you need to go and visit the agency concerned.

However - why are you wanting to move the money from the agency to TDS now? 5 years ago it was not a legal requirement to secure tenant deposit monies in a Government approved scheme (such as TDS) and as long as that original tenancy is still in force then you do not need to protect it or pay a deposit protection fee.

I would have thought you would have wanted to move the money from either The Letting Agencies bank account to yours (because your last tenants had absconded causing damage or owing you rent) or you would have wanted to return the money to your tenants (because the tenancy had ended and no deductions were necessary) or a bit of both (ie: some of the money to you and some to the tenants).

Hope that helps ....

Mark

[Melboy]

..........or Mark.....To avoid losing the deposit because the LA has gone bust! Recent Court case whereby the Landlord had to pay the deposit of £850 back to the tenant even though the LA had done a bunk with the tenant's deposit.

Last year I withdrew one of my tenants deposit after he had been in occupation for 5 years because the unsecured deposit was with the LA.

Nobody in the property retail business is safe at the moment and you can take from me Mark that in our area you are going to see some EA/LA business closures by April.

Mel.