When do you need to re-protect tenancy deposits? Clarification from TDS
Following an article on Property118 before Christmas some agents and landlords expressed concern as to whether they are approaching deposit protection at the end of the fixed term in the correct way. Continue reading “TDS” clarifies scheme rules on when to re-protect deposits
The Dispute Service “TDS” recently posted on this website “TDS members need to log in to their account online and tick a box updating it to statutory periodic ( instructions are available in the Website User Manual). If you do not do this protection will end on the original end date of the agreement. We do advise that you also send the updated certificate to the tenant so they know their deposit is still protected.”
How many of their members are aware of this? Continue reading How many TDS Deposit Protection Insurances are no longer valid?
I have been told that I need to issue another Deposit Protection Certificate when my fixed term Assured Shorthold Tenancy agreement “AST” reverts to a Statutory Periodic Tenancy “SPT”. Is this correct and if so, do I need to pay to re-protect the deposit with the insurance backed schemes such as My Deposits, The Dispute Service “TDS” and Deposit Guard?
I have also heard that the Deposit Protection Service “DPS” service need to be informed when a tenancy reverts to a Statutory Periodic. Continue reading Do I need to re-protect my deposits?
The Dispute Service “TDS” has released an excellent PDF document summarising the first 5 years of tenancy deposit protection in England and Wales. Continue reading 5 years of tenancy deposit protection
As the number of renters rise year-on-year, the number of deposit squabbles increase. Though just two per cent of tenancies end in a dispute over rent deposit refunds..
However, “cleaning costs is the top reason why deposit money is withheld when a tenant moves out of a rented property” according to the Association of Independent Inventory Clerks (AIIC), “and this is a growing problem.” Continue reading 98% of rent deposit refunds are never disputed claim AIIC
SAFEagent is launching a ‘week of activity’ beginning on May 14th until 20th May, aimed at raising awareness of the scheme with tenants and landlords.
As part of the week there will be national and regional events to increase the knowledge of landlords- especially first-time landlords– and tenants of Client Money Protection Schemes and their importance. SAFEagent itself currently boasts more than 1800 letting agents. Continue reading SAFEagent Launches its Awareness Week
Deposit protection keeper Steve Harriott is promoting a love-in between landlords and tenants over the myth that they are constantly at war over money.
After five years of tenancy deposit protection laws, only 1% of tenancies have issues over the return of deposits at the end of an agreement, revealed Harriott, chief executive of The Tenancy Deposit Scheme. Continue reading It’s love not war between landlords and tenants
Three cheers for competition. A few weeks ago TDS, The Dispute Service, announced Deposit Guard, which at launch undercut the costs charged by My Deposits, and made a push for self-managing landlords, rather than agents. My Deposits have retaliated, by reducing their fees for agents, but not landlords. This may follow, and we shall keep members informed. The third, custodial scheme, used by many, as a free scheme is not affected.
Continue reading Eastern Landlords Association MARCH 2012 NEWSLETTER
Why the legislation was introduced-
According to the last Labour government, a significant number of landlords were abusing their position and holding on to deposit money that rightfully should have been returned to the tenant at the end of the tenancy. Continue reading Are the Tenancy Deposit Bodies Biased Toward Tenants?
This is the last in this series of 10 articles written by specialist landlord & tenant solicitor Tessa Shepperson, founder of the online Landlord Law Service.
Continue reading The various and wondrous ways that tenancies end