Agency no longer operating in premise and my deposit ?

[cupcakeli2717]

Hi everyone,
I have a problem which I think is not a new problem but I am not sure where to go?
I have been trying to get in touch with the agency who got me my tenant and protected the deposit.
They are no longer operating in their premise. I have took time to visit them and the office is vacant.
At the same time, I have received a letter from the depository scheme called "My Money" saying that
the agency has moved the deposit and that it is my responsibility to get the deposit re protected. It
has a 3 month period ending on the 20th May 2015. Apparently, the landlord has to pay the tenant up
to 3 months if the money is not protected ?
I am in a state now as I cannot find the agency nor the agent as she claimed that she has left the
company.
If anyone had this problem before, please share how you got it resolved ?

[Interlaken]

The landlord is always responsible for the deposit so next time don't let agents keep it. Protect it yourself with the DPS - the easiest to use.

There is a fair chance your agent has gone bust and nicked the money - that suggests a criminal offense of theft so start by reporting it to the police. They may track him down quite quickly. In between you need to supply the deposit and protect it.

[cupcakeli2717]

Hi Interlaken,
When you say "to supply the deposit and to protect it", do you mean to take my own money to put into another depository so as to
give the tenant new DPS certificate and also prescribed information ?

[Interlaken]

Yes, exactly that or you could find yourself being prosecuted for not protecting the deposit, PI etc.
Explain to the tenant what has happened.

[cupcakeli2717]

Many thanks for your advice. I will protect the deposit with my own money and at the same time make tracks
to the police station to file a case against the agency.
Reporting to the Property Ombudsman will help ?

[Wannadonnadoodah]

Use the insured scheme, will cost you a fee and you get to keep 'the money' so no need for you to pay 100's out at this stage.

[cupcakeli2717]

Am not sure what you mean by insured scheme ? Is it DPS that you meant ? There are a few schemes in the market, Mydeposits, DPS to name two.

[Interlaken]

Use the DPS. They offer 2 schemes Insured and Custodial. I am only using the insured scheme now - so for a small fee you 'keep the deposit' (highly recommended in your current situation). It puts you in control and you will not have to spend much of your own cash right now. Look at their website at www.depositprotection.com

Hopefully you/police will track down the thief agent and get re-imbursed. You are probably not the only victim.

[cupcakeli2717]

Thank you Interlaken. V much appreciated and I will look into it immediately.

[cupcakeli2717]

Having looked into DPS. When should I state the date of the start of the tenancy? I mean on the DPS website.

[PaulF]

The day the tenancy started.