Tenancy deposit protection

By law all deposits taken must be protected. We have elected to us the scheme provided by mydeposits.co.uk. To find out more about this scheme please go their website www.mydeposits.co.uk and click on Information for Tenants where it is explained.

As a group, the deposit is protected under one name although all the tenantsí names are registered at the time we protect the deposit. This name will be the group leader and it is important that his/her home (holiday) address is accurate as all correspondence will go to that address after the end of the tenancy. It is also important that this person is contactable for at least two weeks after the end of the tenancy (ie should not go abroad immediately) as the deposit will be returned to this person (unless otherwise agreed) and he/she will have to distribute the money appropriately to the rest of the group. He/she will also have to sign to unprotect the deposit once the money has been paid from the landlord. In the unlikely event that there is a dispute the group leader will also have to be involved.

If you have any queries about this please discuss them with Louise.