MPM Property Management is a Member of The Deposit Protection Scheme
The Deposit Protection Scheme
Online - www.depositprotection.com
The Deposit Protection Service is the only custodial scheme authorised by the Government. They require the money that is paid to us by the tenant is paid to the scheme to safeguard for the duration of the tenancy. The deposit will be repaid at the end of the tenancy when both parties have reached agreement on its distribution.
HOW IT WORKS
The deposit is paid to us the agent we then are required to pay over the deposit to the DPS within 30 days of receiving it and provide them with the tenancy details and contact details.
When they have received the deposit the DPS will contact the tenant and us to confirm that the deposit is protected. The tenant will also be issued with a unique Repayment ID number. This is five digits long and must be kept somewhere safe as they will need this to request their deposit at the end of the tenancy.
The above is just an outline of how the system works and should you require any further information please visit their web-site or contact us where we will of course help as much as we can.