MyDeposits - ambiguous wordings and carrying out the protection.

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  • MyDeposits - ambiguous wordings and carrying out the protection.

    Hello, hopefully someone can advise who does their own security tenancy deposits by themselves.

    So i'm filling in and registering the deposit for tenants recently moved into my flat on MyDeposits Custodial Based scheme for Landlords.

    One issue is when I first registered for MyDeposits it will only take my actual name instead of the actual name of the company whom the properties are registered to. To get round this I add the company as a co-landlord but this doesn't show up on the prescribed information aka the PI. Really annoying and my solicitor insist this will be an issue should problem arises ie section 21 etc.

    The other issue is when filling in the form online to do the protection it ask for "Lead tenant's alternative address" how can a tenant have an alternative address?! Is that going to be previous address? Because when the auto populated PI is made under g (iv) it states:

    "The name, address, telephone number, and any email address or fax number of the tenant, including such details that should be used by the landlord or scheme administrator for the purpose of contacting the tenant at the end of the tenancy"

    How can you possibly contact a tenant on an address that you don't know where there are going to go next?!
    At the moment I can only put down their previous address but obviously they aren't going to go back to their old address are they?!

    Also my previous agent would print out a DP certificate, this doesn't seem to be the case by doing it myself!

    I think MyDeposits is a bit of a farce.

    Thanks in advance for any advice given

  • MdeB
    replied
    Originally posted by H100S2 View Post
    "The name, address, telephone number, and any email address or fax number of the tenant, including such details that should be used by the landlord or scheme administrator for the purpose of contacting the tenant at the end of the tenancy"
    Address:
    This is something you should ask the tenant to provide, as it is part of the PI.
    They do not have to provide one, and if that is the case, I would put in "not provided".
    They may give a parent's address or a friend's address.

    Telephone and email should not be a problem.

    Leave a comment:


  • theartfullodger
    replied
    If you think MyDeposits are so terrible, why did you not use someone else?

    You are obviously aware of...
    https://www.mydeposits.co.uk/landlords/faqs/?cookies=1
    A Private Landlord is a landlord that owns property in their individual name, e.g. Mr Michael Smith.

    A Company Landlord is one that owns the property in the name of a company, e.g. Michael Smith Properties Limited. We consider a Company to be any legal entity such as a Public or Private Limited Company, Partnership or Limited Liability Partnership.

    Your Membership name must reflect the name of the landlord stated on any AST agreement you have with your tenant(s). If it does not then any protections may be invalid.

    If you wish to protect deposits taken on properties both in your own name and a company name, you need to set up separate memberships.

    Leave a comment:


  • DPT57
    replied
    DPS asks about future address too. I just put my property address. They only seem to use the email/mobile phone anyway.

    Leave a comment:


  • jpkeates
    replied
    I don't use mydeposits, but I suspect that you need to join the platform in the company name, not your own name.

    Leave a comment:


  • mariner
    replied
    Who is the LL named in the AST?

    Leave a comment:

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