MyDeposits has there been a change in policy?Make Text Bigger
I have registered the same contract with MyDeposits for several years. It’s four sharers in a jointly & severally liable 12 month contract.
Each year I pay to renew the deposit registration covering four named sharers for 12 months in line with the contract even though no sharer moves out at this point.
During the period of a 12 month contract a sharer will move out and a new sharer will move in without a break. I inform MyDeposits of the change of sharer name each time this happens over the phone and they record this.
MyDeposits have previously informed me that as long as at least one of the original four tenants remains in the property for the 12 month term of the contract, I do not have to pay a further deposit fee when a single sharer changes.
Four weeks ago I paid for another 12 month registration. A sharer has just moved out and a new one has moved in.
MyDeposits initially demanded that I pay for another deposit registration! When I pointed out that this is not the way this has worked over the last few years they demanded that I send them a copy of the new contract.
I am concerned that MyDeposits may have changed their way of doing business. Has anyone else encountered this?
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