Tenancy Deposit Scheme
Thursday, January 21, 2010 by Ivor Dickinson
" The 500% increase in costs for the TenancyDepositScheme are exorbitant, monstrous and hardly in keeping with the biggest global recession in living memory!
Something must be done. I know the reason they have gone up, because a large majority of agents, particularly those new to lettings and with no experience of settling end of tenancy claims are now just forwarding every claim they have to the TDS and funnily enough TDS can`t cope. Maybe they should have thought about this when they launched the scheme! (why is everyone so incompetent, it beggars belief).
Because D&G have been letting property in Central London for over 50 years we are `amazingly ` able to resolve most disputes ourselves and don`t use TDS that much......... in fact based on claims we made last year and TDS` new rates every referral we make to them costs £1,297.
That`s not a misprint. These new costs are scandalous it will cost D&G £36,337 pa, to put that into perspective our annual cost to be a member of The Ombudsman is £2,200. No,that`s not a misprint either.
And to make matters even worse because TDS is so abused by inexperienced agents the service we receive for our £36,337 is nothing short of laughable, months for a case to be resolved if at all.
Just a thought, but maybe agents should pay based on how often they use the scheme..........it`s not rocket science!"