The Wharf: Home Front – May 3, 2007

Q. I own an investment property which is managed by my local agent and am feeling confused with all the notification about the new Tenancy Deposit Protection, can you advise?

A. From 6^th April 2007 new Government Legislation stipulates that all deposits taken by Landlords/Agents for a new let on an Assured Shorthold Tenancy must be protected by one of three government run schemes. Existing tenancies will not be affected until the tenancies are renewed. As your property is managed your agent will probably be a member of the Tenancy Deposit Scheme (TDS). They will ensure that the deposit is safeguarded and that the tenant knows which scheme is being used. The TDS is an insurance-based scheme run by an organisation that has been running a voluntary tenancy deposit scheme for use by regulated agents and is backed by three professional bodies for letting agents: ARLA, NAEA and RICS. The new scheme will prohibit the holder of the deposit from disbursing any of the deposit without the agreement of both tenant and landlord. There are two other schemes to choose from but your agent will explain what they offer and assist you in dealing with the deposit in accordance with the new legislation.

“I have known Dawn in a professional capacity for a very long time, as we used to work together for a number of years. She has a comprehensive knowledge of the Docklands real estate market, but this is not her strongest point. What makes Dawn stand out as an agent is the effort she puts into every deal, the relationships she builds with everyone and the passion she has for what she does. Dawn and Gabriella have been managing my investment property for more than 3 years. I now live overseas and I feel so comfortable knowing they are really looking after my interest, whilst at the same time always being fair and transparent with the tenants. Nothing is big enough job for those ladies and everytime I say ‘thank you – I am so grateful for what you do’, the reply is ‘It’s my job’. I really cannot recommend this wonderful team enough!”

Daniela WeatherillOverseas Landlord

“We are incredibly happy with the service that Dawn Sandoval Residential provide. They offer a personal but very professional service, and we feel secure and confident with their management which is key when letting out a property.”

Amy Facey

“Dawn Sandoval Residential and associates have managed several transactions on our behalf, and each time they have gone above and beyond our expectations. We trust the team highly, and I honestly couldn’t recommend them enough.”

Neil Chinniah

“The Dawn Sandoval Residential team took the time to properly understand what I was looking for. At every stage of the process, I knew they were doing their best for me and valued me as a customer. I have no hesitation in recommending their services in the highest possible terms.”

Andrew Simmonds – Management Consultant

“Dawn Sandoval Residential offer a real personal service. Their response rates are excellent, and we have a sense that they care about our tenants and properties. We cannot recommend them highly enough.”

Cathy & Paul Betts

“Dawn Sandoval Residential have great insights into the property market in London and especially around Canary Wharf. They work very hard to understand their clients’ requirements, and we would highly recommend them.”

David & Ginette Marks