Changes to tenant find services

In October 2019 we made some changes to our let-only service. This was surrounding how we dealt with client money on let only services, e.g. no longer taking rent and deposits from tenants.

The not collecting rents largely worked well and we have made tweaks to our processes to ensure this side of our business runs smoothly. However one are that has presented issues is the change to deposits, which put simply has not worked as well as expected.

To this end, for the current tenancies we are progressing to contract signing we will be taking the deposit on your behalf, and protecting it within the Custodial TDS scheme.

For all future tenancies we will also be taking the full deposit and protecting it.

We will transfer deposits to landlords once the contracts are signed, and you will be able to manage your tenancy deposits at the end of the tenancy.

This move will remove the friction introduced for landlords to directly ask tenants for deposit payments, which could impact on move-in scheduling for your tenancies.

If you have any questions please ask! We are always here to help.

Simon and the Topproperty Team.