TDS 'has failed'

News Category: Management

Some landlords have stopped asking tenants for a deposit as a way of avoiding dealing with the newly introduced Tenancy Deposit Scheme (TDS).

Research from the Residential Landlords Association (RLA) claimed the scheme - which was introduced earlier this year - is a "failure" as it has not sped up the deposit returns process and has simply force landlords to change how they operate.

While not taking a deposit makes it easier for landlords to avoid the new rules, the RLA added that it also meant they had to be more careful about selecting their tenants.

"[With the new Tenancy Deposit Scheme] a lot of landlords are therefore going away from taking deposits, because they don't want the rigmarole and the administration and the nonsense that the government [has] introduced," explained RLA director Alan Ward.

"So if you're not taking a deposit then you've got to be particularly careful about whom you select to occupy your property."

Mr Ward concluded: "The government failed in its objective … you've still got two weeks before the money gets back to the tenant."

The TDS was introduced in on April 6th and aimed to better protect both tenants and landlords of private rented accommodation.