Hi, the property let is owned by 2 sisters, 1 of which is my wife. the tenancy has all 3 of us as landlords. as i have an account only in my name for rent deposit protection, will it be OK to register the rent protection only in my name or we have to open a new rent protection account in all 3 names?
Question
Deposits and Tenancy Deposit Schemes (England)
deposit protection landlord name
Answer
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3 Comments
We would have definitely preferred it to be in names that match the tenancy.
However, the requirements under the legislation is to comply with the initial requirements of a scheme. It therefore depends on whether putting it in one name is complying with the scheme rules.
I’ve had a quick look at the DPS rules and it doesn’t say either way. It just defines landlord as the landlord or agent. Then it just says the landlord is to protect the deposit by filling in all details asked. Therefore it’s unclear whether protecting in one name is sufficient. Hence, we would prefer it to be in all names to take away the argument.
But my deposit and dps do not register 3 people.also both will register only 1 person
Like you suggest earlier, I think it best to create a new account in all 3 names. If you’re saying it’s impossible to create an account in 3 names, then you should be fine just using yours because you can say you’ve complied with the initial requirements of the scheme and tried to put it in the 3 names.