06/06/2009

Tenancy deposit alert

Mydeposits.co.uk, which is one of the approved TDS schemes, has issued a press release warning about mytenancydeposits.co.uk, whose site purports to be that of an approved TDS custodial scheme. It isn’t. Any landlord whose deposit is with mytenancydeposits.co.uk has not complied with the requirements of the scheme and may face the 3x penalty.

mytenancydeposits.co.uk is run by a company called MTD Secure Limited. They claim to be “administering a tenancy deposit protection scheme by Tenancy Deposit Solutions Limited under contract from Communities & Local Government”. This is not true.

Now, if they are going to lie about that, it would probably not be a good idea to hand them any money at all and certainly not a tenancy deposit. mydeposits.co.uk say that they have informed the relevant authorities.

Landlords, agents and tenants beware! There are only three approved schemes:

  • Tenancy Deposit Solutions Limited trading as mydeposits.co.uk
  • The Dispute Service, also known as the Tenancy Deposit Scheme (www.thedisputeservice.co.uk)
  • The Deposit Protection Service (www.depositprotection.com)
  • If it isn’t one of those, it isn’t legitimate for the purposes of the Housing Act 2004.

    Giles Peaker is a solicitor and partner in the Housing and Public Law team at Anthony Gold Solicitors in South London. You can find him on Linkedin and on Twitter. Known as NL round these parts.

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