Re-registering a TDS deposit?

Re-registering a TDS deposit?

0:06 AM, 1st February 2023, About 2 years ago 12

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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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Simon F

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13:02 PM, 1st February 2023, About 2 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.

Hardworking landlord

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21:03 PM, 5th February 2023, About 2 years ago

Hi if a deposit was protected 6 years after the tenant moved in is the landlord at breach ? Thanks

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