The TDP schemes were launched back in April 2007. Since then they haven’t really been very effective, yet have cost the industry millions of pounds.
| Despite the claims prior to the introduction of the schemes that tenants were losing millions of pounds of deposits from unscrupulous landlords, the scheme has shown that hardly any deposits are disputed. The rates estimated for the disputes are way lower than the government or organisations pushing for the schemes had predicted. | XXX |  |
The tenancy deposit scheme was supposed to protect tenants against unscrupulous landlords but unfortunately it has actually made it more desirable for tenants to go with a rogue landlord! Why? Well if your money is tight and one landlord/letting agent asks for a six week deposit while the other doesn’t or says they will take two months rent up front only as a deposit – which one would you go with?
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XXX | Having said that, it’s the law, so if you let your property on an assured shorthold tenancy agreement (AST) you need to choose a tenancy deposit scheme which has good reputation for helping landlords and tenants settle any disputes quickly. |
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