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 deposit for rented property

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T O P I C    R E V I E W
Sharon53 Posted - 05 September 2008 : 21:10:42
Does anyone know what happens about the deposit you have to put down on rented property
(one and a half months rent in this case) if the letting agent subsequently goes BR. Also is the tenancy still secure?
Sharon
6   L A T E S T    R E P L I E S    (Newest First)
JulianDonnelly Posted - 06 September 2008 : 13:38:58
Hi Harbourmaster,

Thanks for the great advice!

Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367
harbourmaster Posted - 06 September 2008 : 12:04:07
Hi Sharon. yes it will be safe.
Needafriend Posted - 06 September 2008 : 09:08:46
Hi Sharon

I hope that everything goes ok for you and your son.
I was like i said thinking about renting and wanted to clarify in my head if we do get the dep back and now i know.
Good luck.


And Remember To Keep Smiling
Jo :)

"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Sharon53 Posted - 05 September 2008 : 22:34:09
Hi harbourmaster
Am I right in thinking that the deposit should be safe then? My son and fiancee are doing the renting but as they have no savings and could not pay the deposit, I agreed to pay it for them.
I know it is tied up as long as they are in the property, but if at some time they do move I will have to pay the next deposit as well and I would hope to get the previous one back, I can't afford to lose over a thousand pounds.
Hopeful!
Sharon

harbourmaster Posted - 05 September 2008 : 21:58:38
We have,(or used to have) (oooppps dont tell the OR) a letting agents within our estate agents branches.
All deposits must go into the Tenancy deposit scheme. See below:

From 6th April 2007 all deposits taken by landlords must be safeguarded by one of three Government approved schemes. Landlords can choose which scheme they wish to use and must safeguard each deposit and inform the tenant which scheme has been used within 14 days of receiving the deposit.
Needafriend Posted - 05 September 2008 : 21:17:33
Hi Sharon

Im not sure on that one, i thought about it the other day when we did look at a rented place like you they wanted 6 weeks plus a month so lets see if anyone else knows.


And Remember To Keep Smiling
Jo :)

"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/

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