Are agents required to transfer deposits to landlords within a certain time period?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Are agents required to transfer deposits to landlords within a certain time period?

    Once an agent has taken a deposit for a landlord, and the landlord has provided them with their DPS account details, how soon should the agent transfer the deposit to the landlord's account?

    Our agent never checked if we were registered with the DPS and never told us we should be. We found out ourselves later, immediately registered and provided her with the details. She never transferred the deposit to our account.

    #2
    Originally posted by frantrav View Post
    Once an agent has taken a deposit for a landlord, and the landlord has provided them with their DPS account details, how soon should the agent transfer the deposit to the landlord's account?

    Our agent never checked if we were registered with the DPS and never told us we should be. We found out ourselves later, immediately registered and provided her with the details. She never transferred the deposit to our account.
    Are you the tenant or the landlord?
    'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

    Comment


      #3
      i'm the landlord

      Comment


        #4
        A T's deposit should be lodged with one of the three schemnes within 14 days of receiving it from the T, but it is unwise to rely on your agent to do this as you as LL are ultimately responsible and can be sued by the T if you fail to protect it when you should - so keep nagging your agent until he either protects it or gives it to you to protect.

        Agents : buying a dog and barking yourself, eh?
        'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

        Comment


          #5
          Originally posted by mind the gap View Post
          Agents : buying a dog and barking yourself, eh?
          The more I read from you the more i like you

          Anyway, check that your agent does not have a policy that you need to provide proof that you are registered in a scheme - we ask our clients to send proof of where the money is going to be sent as we are taking the money and therefore assume responsibilty for it - should our ll not provide proof that they are registered in a scheme then we register and send to DPS within the 14 days.

          The tenants go after the agent when starting court procedings for deposit protection issues

          (note only in ours ts and cs but you may want to see if they have a similar policy)

          Comment


            #6
            The problem i have is that the tenant IS the agent. She won't chase her own company for the deposit. She didn't pay the deposit when she moved in, despite assuring us that it had been paid into a scheme. I have found out since that she did eventually pay the deposit into the DPS scheme, over a year after she moved in, but has withdrawn it since then, without informing us. I logged onto the DPS website using the account details she gave us. It says it is 'cancelled' but doesn't say when she cancelled it.

            Comment


              #7
              Ok speak to the dps and get the details, and ask for notes to be added to the file stating the issues

              Is she still occupying the property?

              Is she taking a managment fee off you whilst she is in the property out of interest?

              Comment


                #8
                Have a read of this thread:

                http://www.landlordzone.co.uk/forums...ad.php?t=30242
                Allow tenants to protect their own deposits. I want free money when they do it wrong

                Comment


                  #9
                  She is still occupying the property but says she's moving out in August - i really hope she does! She isn't taking a management fee but she did take the letting fee off her 1st months rent, so she paid £200 less for her 1st month's rent. Maybe we should tell the tax man??!

                  Comment

                  Latest Activity

                  Collapse

                  Working...
                  X