Is a new tenancy needed when one party of a joint tenancy leaves?
3 years ago | 8 comments
Re-registering a TDS deposit?
12:06 AM, 1st February 2023, 3 years ago
12
Hello, I have three properties with deposits registered with the TDS. One tenancy has come up for renewal and the tenant is happy to remain. The deposit stays with TDS, but they have emailed me asking me to re-register it at a cost of £25.
This seems unnecessary, a waste of time and a £75 total annual spend.
Am I required to do this?
Advice gratefully received.
Richard
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Member Since October 2020 - Comments: 199
1:02 PM, 1st February 2023, About 3 years ago
Big problem with DPS (custodial scheme, recommended by others here) is that if the tenant is totally unresponsive at the end of the tenancy, they will not release the money to the landlord without a court order. TDS Custodial is much better in that regard. Like DPS, TDS Custodial costs absolutely nothing. But here, I believe the OP is referring to TDS Insured. Like all Insurance policies, you need to read the terms and understand what the premium covers. If you don’t regard the insurance premium fair value, just switch to a Custodial scheme.
Member Since May 2022 - Comments: 55
9:03 PM, 5th February 2023, About 3 years ago
Hi if a deposit was protected 6 years after the tenant moved in is the landlord at breach ? Thanks