Deposits and rent
Regulated agents such as Beresfords are members of an approved regulatory body such as ARLA (Association of Residential Letting Agents). This means we have to adhere to a strict code of professional conduct. Furthermore if a regulated agent were to cease trading, any deposits and rent paid to them is automatically protected within a bonded scheme – a bit like ABTA in the travel industry.
Tenants are always encouraged to check the status of their letting agent. If unregulated they will offer no such guarantees.
Where instructed to do so by our landlord, we register deposits on their behalf in a government approved scheme. Our nominated scheme provider is the Tenancy Dispute Service (TDS). This ensures the deposit is fully protected until the end of the tenancy.
If there is a dispute at the end of a managed tenancy, Beresfords liaise with both landlord and tenant in an attempt to resolve the related issues. However should this prove unsuccessful the matter can be referred to independent adjudicators at the TDS who review each case on its own merits and make a decision accordingly.
On a let only tenancy, if the dilapidation deposit is paid directly to the landlord it is their responsibility to register the deposit in an approved scheme and provide details of the relevant provider and scheme number to their tenants.
Needless to say the better care a tenant takes of a property whilst in occupation, the more likely it is the deposit will be returned in full at the end of a tenancy.
When we act for a landlord on a managed basis we process all rent automatically via the BACS banking system. On a let only tenancy, Beresfords generally process the rent for the first two months and from then onwards the tenant pays their rent directly to the landlord.