'TDS U-turn will not affect' letting agents
Published: 05-Feb-2010
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A planned change to subscription fees by The Dispute Service (TDS) will not stop letting agents from seeing a large increase in their charges, a tenancy deposit protection scheme has warned.
TDS announced earlier this year that the minimum subscription fee for letting agents would rise from £583 to £750, with extra charges for each dispute letting agents asked the TDS to investigate.
However, after a backlash from letting agents, a statement on TDS's website says it is revising the fee structure.
Eddie Hooker, chief executive of mydeposits.co.uk, said letting agents were still concerned about the pricing level TDS will set for the second instalment of fees.
He said: "This apparent U-turn on subscription prices appears to change nothing for most letting agents. In fact, TDS admit that for 90 per cent of firms current invoices will not change."
When the price increase was first announced, TDS chairman John Hornsey said the new subscription fees were fairer for letting agents.
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