Deposit Scheme

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    Deposit Scheme

    I have recently moved in to a property and the letting agent advised me that they do not protect the deposits in a protection scheme; however, they advised that they hold all their deposits in a separate account...Is this legal?

    #2
    generally, no. It is the landlords duty to protect the deposit. The LA should not retain the money under any circumstances. You need to contact the LL directly and warn him/her that the LA is acting improperly.
    I may be a housing professional but my views, thoughts, opinions, advice, criticisms or otherwise on this board are mine and are not representative of my company, colleagues, managers. I am here as an independent human being who simply wants to learn new stuff, share ideas and interact with like minded people.

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      #3
      Does not a insurance-backed deposit protection allow L (or A) to hold T's deposit?
      JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
      1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
      2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
      3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
      4. *- Contact info: click on my name (blue-highlight link).

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        #4
        I have recently been learning a lot from your posts jeffrey. As stated in my signature, i'm here to learn as well as spout off. I'm going to do some reading up on insurance-backed deposit protection as I seem to have been in error. I truly believed that it was the LL's sole responsibility. Thanks again for the advice. (My ignorance comes from the simple fact that I work for an association and don't take deposits).
        Last edited by Darth Wookie; 24-03-2011, 10:01 AM. Reason: to add thanks
        I may be a housing professional but my views, thoughts, opinions, advice, criticisms or otherwise on this board are mine and are not representative of my company, colleagues, managers. I am here as an independent human being who simply wants to learn new stuff, share ideas and interact with like minded people.

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          #5
          Originally posted by jeffrey View Post
          Does not a insurance-backed deposit protection allow L (or A) to hold T's deposit?
          Even if it did the deposit would still be protected by a scheme. OP claims agent said they do not protect deposits.

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            #6
            We should check if the OP is in England/Wales - protection isn't required in Scotland / NI

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              #7
              if the landlord tries to deduct any money from your bond due to damages at the end of the tenancy, you can sue him in a small claims court for three times the amount of the bond. If the tenancy agreement states that you have paid a bond, you can sue him for three times the amount of the bond. if the tenancy agreement states that you have paid zero bond but simply an additional amount of monthly rent to cover the final months rent, then this is legal and he can do what he wants with the money because as far as you are concerned you have paid two months rent. it seems in your case, you should simply not pay the final months rent and be done with it. if the landlord hasnt registered the bond, he cant do anything. if he makes one threat, take him to court and sue him.

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