Tenants Deposit Sheme

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    #16
    In case anyone finds it misleading, in the link given by Paul f. the TDS stands for The Dispute Service, not Tenancy Deposit Schemes. The dipute service is running one of the three schemes available. For details of all, and info on how the whole thing works, see the CLG pages;
    http://www.communities.gov.uk/index.asp?id=1152035

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      #17
      Originally posted by nick.. View Post
      All,

      One thing I'm not clear on here with regards these TDS's

      I have given my deposit to my Estate Agent, and re-sign my AST every 12 months. This year, can I request it is moved to a TDS?

      I believe they keep it with a 3rd party, but even so, I can still request the above can't I?

      Thanks
      Hi Nick,

      If you renew your tenancy agreement before the TDS comes into force in April, then, no you can't request that it be held in a TDS, but if you renew after, then you don;t have to request that it be handled by the TDS - it is mandatory.

      All letting agencies should be aware of this legislation and should let you know in due course as to what will become of your deposit. If, however, your landlord handles your tenancy direct, then it's quite possible that he is unaware of the TDS or, even if he is aware of it, perhaps plans to ignore it. I would therefore suggest that you contact him asap to ask what his plans are.

      If your tenancy is not renewed, and becomes a periodic tenancy, then the landlord or agent are not required to use a TDS, even if you ask. I know a great many private landlords are expecting to do just this.

      Regards,
      Paul.

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        #18
        I take on board all that has been said.

        I currently work for a long-established local company trading in Sussex, Surrey and Hampshire. About Inventories is a sister business I am in the later stages of compiling. I will admit this is the first time I have compiled a website so do indeed have teething problems as each of you suggest. Rest assured that your suggestions are now on my to-do list.

        Steve C: "Walls scuffed" means a rough mark (say, if you took your shoe off and slapped it hard against a wall you would create a scuff). I consider this to be as much detail as is required because a) it says that the affliction to the wall is not a structural one. No matter how many scuffs to a wall it is not going to fall down. And b) you'd have your work cut out finding a paint that matched exactly the colour previously painted on the wall before the scuff appeared. Even if you use the same can of paint the wall will have darkened, lightened or otherwise coloured due to dust, sunlight, cigarette smoke etc. So a complete application of paint rather than touch-ups is always best. Finally c) the words used in the sample inventory is a guide only - if you prefer to give sizes for the scuffs you are absolutely free to do so.

        Thank you, Ericthelobster, for your comments re the choice of font. I intended to find a vintage-style font, but it would appear that the choice is not to your taste. Also, what a lovely thought to be back to that age again. I am assuming your text is not written by a spotty teenager sitting in a back room?

        Paul_f: I assure you that I am serious about this company. However, I have not encountered any text that says it is compulsory for me to be affiliated with the AIIC, so have not yet done so. I am, however, aware that much about the inventory compilation service will tighten up as a result of the TDS and intend to keep fully up to speed.

        To date, we have sold approx. 800 complete packages mainly to university students who cannot afford the prices agents demand. Most of my customers are very pleased with the first-class after-sales support I have offered.

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          #19
          Hayley,
          I think you have an excellent niche business catering to those that do not want to spend £150 for an Independent Inventory Company to do the analysis of condition.

          I commend you for your foresight!
          ASSUME NOTHING - QUESTION EVERYTHING!

          Comment


            #20
            Paragon,

            Thank you very much for your kind comments.

            We have had similar comments to this from many of the students who have taken one of our inventories and, on check out, found difficulty in retrieving their deposits.

            Paragon - may I speak with you? My email address is admin@about-inventories.com.

            Comment


              #21
              Originally posted by Hayley View Post
              Paragon,

              Thank you very much for your kind comments.

              We have had similar comments to this from many of the students who have taken one of our inventories and, on check out, found difficulty in retrieving their deposits.

              Paragon - may I speak with you? My email address is admin@about-inventories.com.
              Sure - can you send me a PM?
              ASSUME NOTHING - QUESTION EVERYTHING!

              Comment


                #22
                Of course - your PM is ready for you.
                Last edited by Hayley; 27-02-2007, 11:43 AM. Reason: Added something

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                  #23
                  Sorry if this seems a really stupid question but why would a ll or agent opt for the insurance scheme which charges a fee per office when the custodial scheme is free, funded by interest accrued? Thanks.

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                    #24
                    If you pay the fee, you can keep the deposit and the interest that it accrues. This may be greater than the fee. The fee can also be passed on as an administrative cost to the tenant (why should we landlords have to pay out of our own pockets for the greater deposit security afforded to tenants by this mandatory scheme?)

                    P.P.
                    Any information given in this post is based on my personal experience as a landlord, what I have learned from this and other boards and elsewhere. It is not to be relied on. Definitive advice is only available from a Solicitor or other appropriately qualified person.

                    Comment


                      #25
                      Originally posted by P.Pilcher View Post
                      If you pay the fee, you can keep the deposit and the interest that it accrues. This may be greater than the fee. The fee can also be passed on as an administrative cost to the tenant (why should we landlords have to pay out of our own pockets for the greater deposit security afforded to tenants by this mandatory scheme?)

                      P.P.
                      Because the threat to the security of the deposit is from landlords?

                      Anyway, I thought is was the agents that have to cough up. The LL custodial scheme is free?
                      Now signature free.

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