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Thomas
Thomas, Lawyer
Category: UK Law
Satisfied Customers: 7602
Experience:  BA (Hons), PgDip, Practising Solicitor
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Dear Sir/Madam, my estate agent offers a fully managed tenancy

Resolved Question:

Dear Sir/Madam, my estate agent offers a fully managed tenancy agreement for my flat. However this also means that they are in charge and are holding the tenants deposit. Is there any legal protection for the deposit - ie if the estate agent goes bankrupt what happens to the deposit? Or which steps can be taken that the deposit is secure at all times? Thanks.
Submitted: 7 years ago.
Category: UK Law
Expert:  Thomas replied 7 years ago.

Hi,

 

Thanks for your question.

 

Is the annual rent on your property less than £25, 000.00?

 

Kind regards,

 

 

Tom

Customer: replied 7 years ago.
yes, it's less than that
Expert:  Thomas replied 7 years ago.

Hi,

 

In that case the tenancy will be an assured shorthold tenancy unless you received a notice at the start of the tenancy specifically stating that it was not to be an AST.


This means that your deposit must be lodged with in a tenancy deposit scheme within 14 days of the tenancy. It will remain here, protected from bankruptcy of the agent, until your tenancy determines and you agree to a deduction/release of it with the landlord.

 

You should ask for details of the scheme, the landlord will provide it so that you can check that it has been properly deposited. Information here-

http://www.direct.gov.uk/en/TenancyDeposit/index.htm

 

If this is useful please kindly click accept so that I may be rewarded for my time. It will be gratefully received and you will be free to ask follow up questions.

 

Kind regards,

 

 

Tom

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