Registering Large Deposit
Tenancy Deposits

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6 Posts
8 years ago
I have Tenants who have paid a deposit of £22,200 for a flat, being 6 weeks rent. The tenancy falls outside the Housing Act due to the rent charged.
Having tried to register the deposit I am told it is too big or not possible as it is not a Housing Act tenancy.
What should I do now? I am noted on the Tenancy as stakeholder.
Should I hold it in a ring fenced account in my name?
Should I lodge it with a third party (solicitor or similar)? Can I then remain stakeholder?
Any options gratefully received!

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