The Tenancy Deposit Scheme will shortly be writing to all its members who are unregulated agents to inform them that they will have to make alternative arrangements to protect deposits when their subscriptions end in April.
It will also be writing to current tenants whose tenancy is shown to have been arranged through an unregulated agent to advise them of the change in protection that can be offered and the course of action to take to ensure protection as the law requires.
The agents concerned should advise their tenants and landlords of what they intend to do on their behalf.
The Tenancy Deposit Scheme said it regretted the action it had been forced to take, but pointed out that it was due to circumstances well beyond its control.
Tell us what you think using the comment section below