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I have a problem with my tenancy agreement and where my deposit should be protected.

 

In my tenancy agreement under the core terms, section 1, it is stated that the letting agency would pay on my behalf the deposit to the Tenancy Deposit Scheme.

 

The next condition specifically states that the deposit is held by the TDS and that the lettings firm is a member.

 

Then later in the tenancy agreement it states that the scheme is administered by The Deposit Protection Service.???????

 

This condition is immediately followed by a number of conditions relating to the special clauses that the TDS scheme require inserting in a tenancy agreement.

 

I have received two certificates (different dates and different amounts but adding up to my deposit) from the DPS confirming that my deposit is held by them but at no time have I received any specific information about this scheme from the managing letting agent.

 

My preference would be to have my deposit in the TDS as I have heard that getting the funds back from DPS can be like 'pulling teeth' - and the deposit is £3000 so can't really afford to have that languishing somewhere that I can't get at.

 

Any advice/guidance

 

Robbo

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I'd have thought DPS is better security for your money as neither landlord nor agent can touch the money. With TDS, either LL or agent can hold the money, so you have less leverage in case of a dispute. But I have no idea about their efficiency in managing disputes which is where the problem may lie.

 

As a LL I've not had a problem releasing two deposits from DPS (neither case involved a dispute). PS. it may be that LL is not planning to stay with agent. In such an instance, the TDS would be problematical for the LL if the agent withdrew coverage (TDS is insurance backed).

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No I think it is more about the agent being lazy and using a tenancy agreement that really is not fit for purpose. We have rented two properties via this agent and both tenancy agreements are identical. My concerns are that the Head agreement the tenancy agreement has not been followed by the agent and because of the delays (over 4 months) in not registering the deposit and then clearly making a 'bodge' of registering the correct deposit my position is weakened because the DPS does not have particularly strong initial requirements where as the TDS does - in any event we have never received any prescribed information about either scheme. So where do I go to now - the relationship is starting to get tense -as the landlord has run out of money and is refusing to maintain this property.

 

I need to be prepared should this go up a notch - as I think it may.

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