AST Tenancy Agreement when using Insured Deposit Scheme (NOT Custodial)

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    AST Tenancy Agreement when using Insured Deposit Scheme (NOT Custodial)

    Am trying to locate an AST Tenancy Agreement which will roll on to periodic tenancy after 6 months when using Insured Deposit Scheme. A first for me, I have always used Custodial and can’t find a Tenancy Agreement that suits. Would prefer not to rejig my own Tenancy Agreement in case I make a mistake! Any suggestions? Thank you. In Wales if that makes a difference. I can’t keep up with differences between Wales and England.

    #2
    A number of organisations (including the RLA) have tenancy agreements available to purchase or that are free to members.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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      #3
      Yes, I looked at these but, unless I have missed something, they do not specify for insured tenancies in the options to choose from. Also, some possibly but only if you use a specific deposit provider.

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        #4
        Insured deposit I should have said. Sorry.

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          #5
          I don't use the insured scheme, never seen the point.

          I don't think it really matters for the tenancy agreement, because the Prescribed Information will give the tenant the information that they need.
          When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
          Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

          Comment


            #6
            For most of my tenancies, I don’t take a deposit. I have also given despots back when tenants have paid them when I am certain as I can be they will be good tenants and I feel they could use the money. I have really struggled with getting custodial ones settled without lots of hassle. For the most part, I am lucky to have long term tenants so no deposit has been fine but I have a property that has just become available and I am torn between selling and renting. There seems to be a dearth of good tenants coming forward. Time of year perhaps? Anyway, wouldn’t want to rent without taking a deposit on this property so thought I would have a go at insured rather than custodial. I remember seeing an agreement somewhere that stated on cover ‘Assured SHORTHOLD Tenancy Agreement to be used where the deposit is registered with the TDS Insured Scheme.’ I don’t use TDS and can’t think where I would have seen this and wondered what is different about it (other than naming TDS of course!)

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              #7
              RLA do have a specific tenancy agreement for an insured deposit scheme. Its with TDS I think. Having said that, I agree with jpk that the insured scheme is a risk for landlords unless you're completely on top of it. If the insurance expires and you don't act then the deposit becomes unprotected.

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                #8
                mydeposits.co.uk seems very straightforward and they contact you but I would say I am on top of things like this. Just need to find tenancy agreement now or understand why they would be different. I assume it is just the reference to the deposit in the tenancy agreement but am just cautious about these things.

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