Do you need fast and simple deposit protection? The government’s database of rogue landlords would be made available to tenants, agents, landlords and professional bodies under the Bill. I don’t want the hassle of switching agent. Investigation . Additionally, that’s usually a cheaper option than full-management, where letting agents take full control. Five letting agents, including one branch of Connells, which has 200 branches nationwide, needed a financial commitment or holding deposit before tenants could see the contract. My landlord or letting agent won’t return my security deposit, what can I do? At the end of your tenancy. November 12, 2013; 7 replies Transfer of deposit from agent to landlord. Check with the deposit protection schemes. This is a letter that can be used to request repayment of the tenancy deposit from the landlord or a letting agency. Answer. I intend to manage the property myself, what’s the process to ensure I have the deposit and control of registering it? Letting agents have a number of roles to perform when it comes to tenancies. Landlord Advice & Help letting agent problems. Transfer of deposit from agent to landlord. With some tenants failing to pay rent, this has strained the relationship between landlord and agent. Each scheme has its own procedures for dealing with changes. Take that option. Transfer of deposit from letting agent to new landlord. Unfortunately, not all agents transfer the rent to the landlord on the same day they receive it from the tenant. Some are solely their responsibility and others are performed on behalf of the landlord, who might be ultimately held to account legally. Thank you . When a tenancy ends your landlord or letting agent has to get in touch with the tenancy deposit scheme provider and ask for the deposit to be returned. She then instructed new managing agents and asked the previous owner’s Agent to transfer the deposit to her new agents. The document provides a simple template that enables a tenant to request the deposit be repaid by preferred method, and sets out their legal entitlement to such. The issue I have is that the agent who had deposited two sets of deposits (with the DPS) has refused to transfer the deposits to our DPS account. transfer deposit from DPS Agent to Landlord account with Deposit Guard You are here : Member Forums Tenancy Deposits transfer deposit from DPS Agent to Landlord account with Deposit Guard This topic has been locked as no posts have been made within the last 90 days. Hi We have decided to stop using our letting agent for a number of reasons. Holding Deposit through letting agent – my agent lost us a prospective tenant through false claims about the property and is now refusing to repay the holding deposit he took. The agent should then collect the rent from the tenant and transfer the balance to the landlord within an agreed timescale. The old landlord or agent may insist the deposit is protected by new landlord or agent before they transfer the money. Superb response (and makes sense) - thank you! I understand the deposit has been protected by the letting agent. Your landlord or letting agent must put your deposit in the scheme within 30 days of getting it. COVID-19 letting agent and landlord relationship. The Landlord purchased the property with the Tenant in residence. If you disagree with the deductions your landlord or letting agent has claimed. nerms19 replied to nerms19's topic in Landlords forum. A holding deposit through the letting agent is intended to reserve a letting, and the landlord/agent does this by taking the property off the market, though new enquiries should still be recorded. They must arrange for the new agent/landlord to be registered with The LPS Scotland and the existing agent/landlord will then be able to transfer the deposit to the new agent/landlord. Pages: [1] Author Topic: letting agent problems (Read 1196 times) ... She advised I will need a new letting agreement with the tenants myself if I wish to discontinue them as agents and she will transfer the deposit to me directly so I can put it in a custodial scheme in my name, this was 3 weeks ago now. Here is a list of ten key responsibilities for letting agents, some of which you might not realise when you start out in the industry. You can check your deposit is still protected if there's been a change of landlord or agent during your tenancy. The transferee must be registered with SafeDeposits and they should give you their PIN and company name (if an agent or company landlord) or PIN and surname (if they are a landlord who is an individual). You will need then register the deposit and pay the small protection fee, and provide the certificate to your agent, as confirmation of the deposit protection, for them to release the deposit funds to you. The Landlord purchased the property with the Tenant in residence. 1 Comment. The Tenancy Deposit Schemes (Scotland) Regulations 2011 have changed the way landlords and letting agents must handle tenancy deposits. Does it make any difference if in DPS or TDS? Hi We have decided to stop using our letting agent for a number of reasons. As a landlord or tenant, you have the right to complain about your letting agent, providing the complaint is legitimate. Sometimes, tenants and their landlord or letting agents just can’t agree on how the deposit should be returned. Transfer of deposit from agent to landlord Sign in to follow this . Letting agents offer several packages; they usually offer a package which means the landlord is responsible for collecting rent, while the agent still manages the property. I am moving out and have found another property with the same letting agent (save on fees!) The deposit secures the property for that tenant, payable to the landlord or their letting agent and can legally be no more than one week’s rent. 17 Jul 2018 | 1 comment. Followers 0. Thanks Lucy Tags: None. can I transfer my deposit or do i have to find another 2months deposit upfront while waiting for the other desposit to be returned? Find out how our UK Government assured deposit protection scheme works and enables letting agents to protect their tenants' deposits quickly and easily. They sent the deposit to my account then sent me an e-mail advising that they would not give me the info unless the fee was paid and reminded me of the need for the deposit to be registered within 14 days. No, there’s no need for the letting agent to collect a deposit on behalf of Zero Deposit landlords because the Zero Deposit Guarantee replaces the traditional rent deposit. letting agent problems. Following the Agent refusing to transfer the monies, the Landlord referred the matter to my Office. Following the Agent refusing to transfer the monies, the Landlord referred the matter to my Office. What is the difference between a holding deposit and a tenancy deposit? With deposit free renting the landlord benefits from protection and security and you no longer face the hassle of collecting a traditional deposit. A holding deposit is different to a regular tenancy deposit as it is payable before the person becomes a tenant and before any agreement is signed. We’ve put together examples … All complaints are different, so it helps to know where to direct your complaint in order for it to be dealt with properly. Tenancy Deposit Protection In April 2007 it became law (Housing Act 2004) that all deposits collected by Landlords or Agents, [even renewing an AST] need to be registered in either a custodial scheme or an insurance based scheme.These schemes protect all deposits on … It is arguable that if a landlord tells incoming tenants to pay the deposit money to one of the other tenants, that tenant could be deemed to be the landlord’s agent for that purpose. If the contract states that the letting agent is not tasked to protect the Tenant’s deposit, then you have full responsibility to secure the deposit. Transfer Deposit. The deposit status will need to be ‘Active’ for a transfer to take place. Mrs Mug. By ... 0 9 posts; Report post; Posted November 12, 2013. You (or your letting agent) must put your tenants’ deposit in the scheme within 30 days of getting it. If a letting agent has not been delivering on service, it is likely that the tenant will be pleased that the management is changing, meaning that they may be more likely to stay in the property for longer than they would have with the previous agent. Transfer of deposit from agent to landlord. nerms19 replied to nerms19's topic in Landlords forum. Transfer of deposit from letting agent to landlord 12-11-2013, 12:16 PM. The Bill proposes that tenants should be able to transfer their security deposit from property to property, meaning they don’t have to save for a new deposit when moving rental homes. Deposit Submission Forms must be signed by the registered agent/landlord (at the bottom of the reverse of the form) and details of the sole/lead tenant must be entered in Section 4 of the form. She then instructed new managing agents and asked the previous owner’s Agent to transfer the deposit to her new agents. Good letting agents will have a strongly worded clause in their contract, something to the effect that: so long as one of the original tenants or licensees introduced by the agent to the landlord is still in the property, fees will be payable on-going, including on tenancy renewals. Find out more about the deposit protection rules. This is an important aspect of the agreement between the landlord and the agent. The transfer of ownership and/ or agency must be handled by the controlling agent/landlord. The relationship between landlords & agents, even those that were once friendly have been tested during the COVID-19 period. Choose from our custodial and insurance products and join My Deposits today. You can use this function to transfer a deposit to another user. The rogue database. This means that the letting agent should pass the deposit over to you so that you can secure it within the allowed 30 days after they received it from the Tenants. 3. 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