Letting agency exploiting a loophole or a legit way to register deposits without actually protecting them?
Hello guys,
I recently moved out of a property managed by a management agency in Birmingham(not sure if i should name) and getting my deposit back has been a nightmare. I realised my deposit was never actually protected.
I did check with the manager about 2 months from moving in and she showed me a TDS website tab saying my deposit was registered and i was given the deposit number, but upon contacting TDS with the deposit ID I realised that while the deposit was registered (with the right date and other details), money was never actually added. So I never got prescribed information which means my deposit was never protected, as per my understanding.
Upon discussing with other tenants that lived there, I can see this is done with many other people – some receive full deposits back in about 3 months and some like me are still waiting. Same situation with the tenants currently living in the property. Upon doing some research I read Google reviews about the same thing happening at their other properties in London etc.
I am getting no help from TDS as they say that the deposit was never protected. But as per the screenshot of TDS that my agent showed me, it had all the details as well as a deposit number generated. This is quite concerning as I feel this loophole – or maybe it is a legal way to register a deposit in custodial vs otherwise – is being exploited a lot by the agency. I am now confused whether this is right on the agent's part or if the deposit was actually not protected.
We are left confused and made to believe that the deposits are protected while money is never added into the accounts. We never received the prescribed information and have no way to get the deposit back once we leave. To make things worse, the email and phone number listed on their website don't get any response either. I am quite disappointed with TDS as they generate deposit numbers without actually receiving the money (the deposits are not trackable though and not found when searched), and then offer no support in getting the money back.
I would like some advice on how to get out of this situation, both for current tenants and those who have already left, as things could be different with the new laws applicable now.