View Full Version : Tenancy deposit scheme flawed

28-04-2007, 17:42 PM
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 !

29-04-2007, 18:34 PM
i agree, its not a deposit until you have received the full amount. holding fee or reservation fee should do the trick.