Tenancy deposit scheme flawed

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  • Tenancy deposit scheme flawed

    I have numorous 3 to 5 bed student properties, where the tenants normally reserve (by way of a "reservation fee") in April for move in about Aug/Sept,however the tenant's or parent's send in monies individually by cash/debit card/cheque/bank transfers over a three month period but now I have to register the deposit withing 14 days it will mean doing this individually but tried today with Tenancy Deposit Solutions and this will only allow one deposit for a joint tenancy, I cannot register money I haven't received, and how do you get tenants to all pay on the same day when they are spread around the globe. I contacted TDS who said they had thought about this scenario and could I not take a deposit !
    "Better an empty property than a tenant without a guarantor"

  • #2
    i agree, its not a deposit until you have received the full amount. holding fee or reservation fee should do the trick.


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