TDS & paying deposit by installments

Loretta

If you have moved into a rental, direct arrangement with L/L, no agent and the arrangement is that the deposit is payed by installments for a year, so much per month, at what stage should the money be placed in a TDS? Should each monthly installment be paid in or should the whole amount be paid in, when the L/L has it all in a year's time?

sooz

I think each installment would have to be paid in within 14 days of receipt. Atleast the DPS is free, or it would cost a fortune with the insurance based scheme. Will be a paperwork nightmare to arrange its return...simply getting all the return IDs in the correct order!

DawnW

For this reason, I would personally not accept the deposit being paid in instalments. I am quite surprised the LL has done so, given the regulations (have to be in a scheme in 14 days etc).