Mydeposits.co.uk to stick by unregulated agents

by Shirley Borrett

Tenancy deposit scheme Mydeposits.co.uk has announced that it will continue to secure deposits from all letting agents.

The disclosure comes after the Tenancy Deposit Scheme has said that from April 6th it will no longer accept letting agent members that are not affiliated to a recognised professional body.

Mydeposits.co.uk research shows that 56 per cent of letting agent disputes originate from letting agents not affiliated with bodies such as the Association of Residential Letting Agents, the National Association of Estate Agents, the National Approved Lettings Scheme and the Royal Institute of Chartered Surveyors.

Eddie Hooker, chief executive of the site, says the research indicates that letting agent deposit disputes come from both members and non-members in almost equal numbers.

"From a disputes perspective, unaffiliated agents do not represent a higher than normal risk," he added

However, Mr Hooker revealed that in the current economic climate it makes sense "to introduce more stringent financial checks on all our letting agent members".

  • Landlord and Tenancy News from Lawpack: Give tenants the right information concerning their tenancy deposit protection with our Section 213 Notice.

Published on: January 22, 2009

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