I read an interesting article this morning - a Stafford letting agency’s financial security has been questioned after the company that owns it has become a victim of the economy and gone into administration. As you can imagine this has left landlords worried about lost rent payments, and tenants wondering if they’re going to see their deposits again. After reading the article I wanted to reassure both landlords and tenants that if they use the DPS their deposits are safe. As soon as we receive a deposit payment we protect it independently until the end of your tenancy when you can reclaim it, regardless of whether your letting agent or landlord is still in business or not.
As long as the deposit is protected in a Government approved scheme, all tenants have protection against letting agent or landlord administration.