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Poppy35
30-05-2007, 12:27 PM
ok guys, Im a LA and have just been informed by a client that wishes to hold the deposit herself and is registering the with NLA insurance scheme and providing the inventory herself (tenant find service).

Our TA states about The Dispute Service Ltd and how deposit is held etc.

If we are providing a tenant find service only but are preparing the inventory do I have to detail all the info about how the deposit is held or do I just put that the deposit is held by the Landlord and protected under a Tenancy Deposit Scheme.

If I havbe to put the wording where do I get this from as I have looked on the NLA website and found nada!!!

thanks so much.

Poppy35
30-05-2007, 12:50 PM
ignore me!!!

just found this on the NLA site

14. Do I have to insert a clause into my tenancy agreement stating that I am a member of your scheme?

No. Tenancy Deposit Solutions will issue you with a Deposit Protection Certificate (as well as sending a copy to the tenant) which will provide all the necessary information about the protected deposit required by law. You therefore do not have to state in your agreements that any deposit taken is protected by our scheme. In addition, you are free to be a member of several schemes at the same time and pick and choose how you wish to protect certain deposits. A generic statement in your agreements about deposit protection could be confusing to the tenant who would not know which scheme his deposit was protected with.

Paul_f
30-05-2007, 19:04 PM
You are advised to pass on the deposit to the landlord if you are just executing a tenant find service as your contract ends with the landlord when the tenant moves in.

Poppy35
31-05-2007, 09:18 AM
Paul - thats our normal practice anyway. Im concerned though whether the landlord will register it in time - :eek:

Esio Trot
31-05-2007, 15:58 PM
You are advised to pass on the deposit to the landlord if you are just executing a tenant find service as your contract ends with the landlord when the tenant moves in.

We now write to our let-only landlords telling them that the deposit will be passed to them and it is their responsibility to register the deposit and then to provide the prescribed information within 14 days - giving them a precis sheet on what is required.

We do give an option though, as a number of landlords shudder at the admin involved. We tell them to let us keep the deposit in our bonded client account, we will register the deposit and sort out the s213 - but it will cost you £50 plus VAT.

We've done quite a few let-only's since "D-Day" and so far all have gladly paid the extra fee (we might put it up at this rate!).