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Andy1011

Failed To Secure Deposit

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I recently moved out of my apartment after 3 years (13/07/2012 - 04/08/2015) and found out that the agency failed to pay my deposit into a protection scheme.

Although they have assured me they will repay me, the 10 days they would normally have to repay the deposit has passed (10 working days will be on Wednesday the 19/08/2015).

As my deposit wasn't secured I don't know what my recourse is to recover it.

From what I understand it is illegal not to secure the deposit within 30 days of the start of the tenancy. What are my options ?

Any help would be very much appreciated,

regards

Andy

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This has been discussed before - Sure someone will come on and provide details. I think if its not been kept by a third party - they are liable to a fine ?

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Andy1101,

Paragraph from my thread on this renting subforum entitled '67 days':

Never mind, it only took a trip to the Citizen's Advice Bureau and 2 'recorded delivery' letters to get the deposit protected! :rolleyes:

First letter to the letting agent reminding them of their obligation. Second letter to a Property Ombubsman explaining the situation (+ enclosed copy of letter to LA). I didn't realise that from October 2014, all lettings agents must be registered with one of three redress schemes.

My ex-letting agent (now ceased trading) was regulated by 'The Property Ombudsman'. There are two others which your letting agent may be regulated with.

Threaten to report them to their regulator if they don't cough up. Failure to protect deposit could result in a payment to the tenant of up to 3 times the value of the deposit. It staggers me that letting agents take such a financial risk to their bottom line.

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