Tenancy deposit schemes

[BGARK]

One of my tenants is giving me a bit of hassle about where her deposit is (currently in my bank).

Should I sign up for http://www.tds.gb.com/landlord-membership-fees.htm... or is there a better oiption?

I don't mind, just want to do the right thing so she is happy.

Thanks.

[BGARK]

Ray Luxury-Yacht said:

Um, you could be in the st if you're really unlucky!

The law changed a while back, and deposits MUST be placed or registered in a Government approved protection scheme within 30 days as said.

If you don't, the tenants can potentially sue you for up to three times the amount of the original deposit.


Get it in a scheme and quick!

Ok thanks, will do. I assume if I have passed 30 days I am in the mire, or is this ok if combined with a newly dated agreement?

[BGARK]

Any association benefits, or just peace of mind maybe? http://www.rla.org.uk/

[BGARK]

Ray Luxury-Yacht said:

You won't be in the mire unless the tenants know about it

They can check online if their deposit has been protected. If they haven't yet then you'll be fine, just get it in quickly!

Thanks Ray LY, who do you use?

[BGARK]

Ray Luxury-Yacht said:

BGARK said:

Ray Luxury-Yacht said:

You won't be in the mire unless the tenants know about it

They can check online if their deposit has been protected. If they haven't yet then you'll be fine, just get it in quickly!

Thanks Ray LY, who do you use?

TDS: https://www.tds.gb.com/

Ok thanks, through the RLA I can deposit with the TDS according to my quick research. I will give them a call tomorrow and get this sorted. http://www.rla.org.uk/landlord/tenancy_deposit_sch...

[BGARK]

Olivera said:

"One of my tenants". So you have others as well? It beggars belief that you were not aware of the compulsory nature of this scheme.

Why, I only found out when they asked, how else would I have known?

Within 24hrs of finding out I am on the case, and now getting grief about it

It has also prompted me to join the rental association to keep on top of any new legal requirements.

[BGARK]

JustinP1 said:

Tell me you know about gas safety checks, please...