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Tenancy Deposit Schemes
mither_2
Posts: 236
Forumite
Hello,
Can anyone advise which is the best scheme to use?
I am planning to use the tenancy deposit scheme
http://www.tds.gb.com/landlord-membership-fees.html
They want to charge me as a landlord £21.95 to do this.
I thought this was reasonable until it occured to me that they are sitting on my tenants cash for a year and getting the interest. Do they pay the tenants any interest when this is given back?
What is their reasoning for this?
Happy to pay the £21.95 but if someone can suggest another scheme where I don't need to pay then great.
many thanks
Can anyone advise which is the best scheme to use?
I am planning to use the tenancy deposit scheme
http://www.tds.gb.com/landlord-membership-fees.html
They want to charge me as a landlord £21.95 to do this.
I thought this was reasonable until it occured to me that they are sitting on my tenants cash for a year and getting the interest. Do they pay the tenants any interest when this is given back?
What is their reasoning for this?
Happy to pay the £21.95 but if someone can suggest another scheme where I don't need to pay then great.
many thanks
0
Comments
-
If you want to keep the money in your account then you should use an insured scheme instead of a custodial scheme. The insured schemes can be cheaper, too, although the amount you'll gain on interest is negligible...
http://www.mydeposits.co.uk/ (works out cheaper if you're a member of NLA).0 -
If you want cheap then the DPS's custodial scheme is free, and good.0
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