Landlords 'unaware of TDS rules'
Published: 11-Jun-2007
The majority of landlords are unaware that the new Tenant Deposit Scheme (TDS) has come into force, a new report suggests.
According to Alliance & Leicester, 53 per cent of landlords did not know about the new regulations which came into force on April 6th to protect the deposits of tenants living in rented accommodation.
A further 23 per cent of landlords knew about the regulations but were uncertain about their responsibilities, or what would happen to them if they failed to comply with the scheme.
"Being a landlord means gaining not just an additional property, but all the responsibilities that come with tenants living there," explained Jeremy Claridge, the head of specialist mortgages at Alliance & Leicester.
"The Tenant Deposit Scheme is designed to give both tenants and landlords peace of mind, and in the event of any dispute, all cases will be treated fairly.
"This should make both renting and letting a less stressful experience overall, and hopefully the landlord/tenant relationship should shake off the traditional image of warring partners."
The latest version of the RentMan software contains new tenancy agreements for each of the Deposit Protection schemes with wording given by the respective schemes. In the future, the software will expand with additional features for returning the deposit and resolving disputes.
