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Holding deposit on mydeposit.com

Regarding my recent query: http://www.zoopla.co.uk/askme/details/renting/bristol/60026 I had some concerns about an agency and was advised to find out where they keep their deposits and check with this authority. They have told me it is on www.mydeposit.com, but there is no contact details so that I can check. Does anyone know if mydeposit.com is generally used and ok? Many many thanks, the last replies were so helpful. (they are asking for more money now, before we get the keys)

Asked on Jul 31 2011, Renting in Bristol | Report content

Answers (3)

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  • I have never heard of this company and would suggest speaking to several agents to determine where each holds their deposits.

    Answered on Aug 1 2011, Report content
  • You probably mean http://mydeposits.co.uk/ they are a recognised organisation for holding deposits. If you telephone them they will tell you if the particular agency you are using is a member. You are also entitled BY LAW a certificate of lodgement of the deposit within 14 days. If you have any further queries feel free to contact me.

    Answered on Aug 1 2011, Report content
  • I agree with igloolets, If you have paid a tenancy deposit it must be registered with the scheme within 14 days and the person registering must supply you with "prescribed information" "certificate of registration" "explanatory leaflet" - you will have to pay the balance of the money you owe before getting your keys. The problem is that some agents take a deposit against the rent, which may not be the tenancy deposit. (which is what I do). The balance of rent is paid just prior to moving in sometimes the day before or the same day together with the whole tenancy deposit which is then registered. You can opt to pay in cash in their office and wait for your certificate to be printed out. One of the most important questions to ask this agent is if they have "Client Money Protection" - If they are a member of a professional organisation they will have CMP - it means they are bonded and landlord and tenant money is protected. (in addition to the deposit scheme). Another question is who do you pay your rent to - the agent - or direct to the Landlord. If you pay the agent and he does not have CMP - then your rent may not end up with the Landlord. Each time you pay your rent you Must get a receipt.

    Answered on Aug 1 2011, Report content

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