Question

Deposits and Tenancy Deposit Schemes (England) | Duty to Provide Name and Address of Landlord (England)

Transfer of deposit from TDS TO DPS but AST the same

4 Nov 2016 | 1 comment

Hi Adrian we have a landlord with a block of 7 flats we have being managing for a number of years which they now want to self manage as a cost saving.
However the deposits are at present in our Client account protected with the TDS & we want to transfer them to the Landlords DPS account but the landlord doesnt want new AST’S (all periodic).

We have served a S48 and will also provide new DPS Prescribed info then send the funds off to the DPS.
Is that all we need to do or have we missed something?
Many thanks in advance

Answer

1 Comment

  1. guildy

    That all sounds good to us.

    When you unprotect a deposit (in your case from TDS), it is deemed as the receiving of a new deposit. Therefore as long as it is protected and new prescribed information is given within 14 days of it being unprotected (the timings are slightly different after an unprotection) then all will be good.

    The section 48 is the right thing to do too.

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