Wednesday, 11 June 2014

Comment: Tenant deposits


Your Deposit

So, it used to be that as a tenant, once the deposit was paid on your lovely new rental abode you could pretty much say goodbye to it and simply write it off as another one of life’s hidden expenses.

However, since the introduction of the Tenancy Deposit Scheme or the TDS in 2007 (I feel like this should be accompanied by some uplifting music, maybe Wagner or Neil Diamond) such worries have been banished into the ether.

The scheme was set up to try and make the lettings process a lot more transparent and fair. In the old days, the dastardly landlord (often twiddling their villainous moustache) would snatch your money into their top pocket like one may expect a baddy to in an old black and white film.

Authorised by the government (imagine the government dressed all in white; lots of linen and open-toed sandals), these Tenancy Deposit Schemes are designed to secure a tenant’s deposit, and only allowing deductions to be made at the end of a tenancy based on reason and impartiality.

But how do they work I hear you cry in a desperate chorus of wonton despair. Okay, okay, I’ll look at them in more detail on the information pages.

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