Must I Use the Tenancy Deposit Scheme?

[Poppy35]

we are naea and rics and our cost equates to about £6.00 per tenancy which is the minimum amount they charge based on no disputes. Not sure where the £15.00 comes from tho? I read that also but no evidence of it where I am concerned.

[muckbucket]

"please do not call us" Isn't this a nerve? I would not expect my solicitor, accountant, or any professional taking money from me to say "please do not call".

Anyway to the point. I am wondering what if I leave, happens to deposits
that are previously registered and where the tenant is still ongoing?

Thanks to all so far.

Alan

[Poppy]

Please do not call us. Very interesting. They are not in a happy place a present.

Mydeposits have poised themselves ready to take advantage of TDS’ high fee problem. Take a look at this link posted on their home page Information for agents considering moving to mydeposits

[dominic]

Thank goodness there is at least one competitor, so that the free market can address the grievance!

[sjcollett]

we are an agency and we have always used DPS. we have not had issues with repayment - esp. when it is for rental arrears. You just do the single claim and get a solicitor to swear an oath. They then send you the cheque. Have only even emailed communication with them. They can be a bit vague at times - but can't they all!

Will take you 2 mins to sign up online - it's free and easy

[little.letter]

I use MyDeposit very simple and quick

[muckbucket]

Firstly thank you all. This now moves on to "what are My Legal Requirements
when moving my deposit registrations from TDS to DPS?" The free scheme I intend to use.

Do I have to have tenant's permission considering that the agreement is an agreement that the TDS scheme has to be used until the end of the term?

Any other requirements?

AAhh, It is another question isn't it so I had better start a new Post. "Moving Tenant's Deposits from TDS to Another Scheme"


Regards to all
Alan