Chase Devonshire is proud to announce that we are part of The Deposit Scheme coming into affect on the 6th April 2007.
| What does this mean to you? |
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The Deposit Scheme has been instigated by a Government initiative in order to safe guard your money whilst in a tenancy under a Assured Shorthold Tenancy Agreement (AST). |
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Chase Devonshire will hold a sum equal to 6 weeks rent (this can be more, subject to the application) as security against dilapidations and damage occurring during your tenancy as stakeholders. |
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| What will happen to my money? |
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These funds will be held in a ring-fenced clients account for the duration of the tenancy. We will not pay you or the landlord any interest incurred on these funds as it covers bank charges. |
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| What happens when the tenancy ends? |
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Chase Devonshire will conduct a check out report and will provide you and your landlord with a copy. If there are no disputes and all your utility accounts have been closed and paid (proof of such will be requested by us) we will release your deposit within 10 working days from receipt of your final utilities. |
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| What happens if there is a dispute? |
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The landlord and/or tenant must endeavour to notify Chase Devonshire if there is a dispute over the deposit, as soon as possible, and within 28 days of the lawful end of the tenancy and vacation of the property. |
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If, after ten working days following notification of a dispute and reasonable attempts in that time to resolve any differences of opinion, there remains an unresolved dispute between the landlord and the tenant over allocation of the deposit, it will be submitted to the Independent Case Examiner (ICE) of the TDSRA for expert, impartial, third party adjudication. All parties agree to co-operate with this investigation. |
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The statutory rights of either the landlord or tenant to take legal action against the other remain unaffected. |
For further information in regards to The Deposit scheme please contact our office 020 7740 1770 or email: propertymanagement@chasedevonshire.com |
