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Showing posts from October, 2012

Comparison of tenant deposit schemes in England and Wales

In England and Wales there are three government-approved tenancy deposit schemes (Scotland and Northern Ireland have different schemes). They are Deposit Protection Service (DPS) MyDeposits  Tenancy Deposit Scheme (TDS) Insured vs. custodial scheme Insured scheme: the landlord/agent can hold the tenancy deposits during the term of the tenancy. They need to pay a fee to the deposit scheme to register the deposit. At the end of tenancy, if the tenant raises a dispute, they must transfer the disputed amount to the deposit scheme until the matter is resolved by a free dispute resolution service provided by the scheme or a court.  Custodial scheme: the scheme holds the deposit for the duration of the tenancy. Custodial Schemes is free of charge for the landlord/agent. At the end of tenancy, both parties agree before the deposit can be released to the tenant/landlord. If there is a dispute, the release of deposit will be based on the decision of the free dispute resolution service provided b


"There is a pocket kingdom, Daddy is the king, and Mummy is the Queen, and Brenda and me are Princess." "That's right." "And in this pocket kingdom, there is a special book, called Pocketpedia." "Wow, how fascinating! Where is this pocket kingdom?" "You go left, right, front. Is it the right way?" "I don't know." "Google it, then!" ------------------------------------------- 达则兼济天下,雅能独善其身。