Tenancy Deposit Scheme - Which is best?

Hello,

can anyone give me feed back on the following Tenancy Deposit Schemes i'm looking at the follow 3:

Deposit Protection Service (Custodial and Insured) - http://www.depositprotection.com

MyDeposits - http://www.mydeposits.co.uk

Tenancy Deposit Scheme - http://www.tds.gb.com

I like the idea of Deposit Protection Service as its Custodial Scheme costs nothing. But which looks after the landlord the most? Which is easiest to use/control and update?
Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)

Replies

  • 100saving100saving Forumite
    314 Posts
    bump. anyone?
    Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
    Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
    Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
    Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)
  • Pixie5740Pixie5740 Forumite
    14.5K Posts
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    Somone asked a similar question 4 days ago so you might find their thread helpful:

    http://forums.moneysavingexpert.com/showthread.php?t=4951445&highlight=
  • edited 23 April 2014 at 3:31PM
    nearlyretired2004nearlyretired2004 Forumite
    501 Posts
    edited 23 April 2014 at 3:31PM
    But as you will see I didnt get much helpful advice ......


    And for gods sake don't use the word 'control' .....they will rip you to shreds.....!!!


    And most readers here seem to be bitter and twisted tenants so you wont get many recommending a scheme that 'looks after the landlord the most'


    I will watch your thread and see if you get any better advice....
  • Pixie5740Pixie5740 Forumite
    14.5K Posts
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    I think jjlandlord's posts were probably the most useful since he/she is a landlord and has experience of using them.
  • Yes ...I did say 'not much' advice, but I probably should have explicitly thanked those who did contribute in a helpful manner .......and jjlandlord was certainly the most helpful!!
  • benjusbenjus Forumite
    5.4K Posts
    Part of the Furniture 1,000 Posts
    And most readers here seem to be bitter and twisted tenants so you wont get many recommending a scheme that 'looks after the landlord the most'

    Actually most of the people on here that contribute extensively to landlord/tenant threads are landlords.

    If you hang around on this branch for a while you'll see some requests for help from landlords that clearly have no idea what they are doing or what their legal obligations are, reinforcing the Rachman-esque perception of private landlords in many quarters. To counter this, the regular contributors tend to be ruthlessly fair and above-board in their advice, regardless of whether a landlord or a tenant is asking the question. I can't see why you'd want it any other way - what's the point of taking sides, when the only thing that matters is the law?
    Let's settle this like gentlemen: armed with heavy sticks
    On a rotating plate, with spikes like Flash Gordon
    And you're Peter Duncan; I gave you fair warning
  • edited 23 April 2014 at 5:02PM
    tom9980tom9980 Forumite
    2K Posts
    Part of the Furniture 1,000 Posts Name Dropper I've helped Parliament
    Forumite
    edited 23 April 2014 at 5:02PM
    Yes ...I did say 'not much' advice, but I probably should have explicitly thanked those who did contribute in a helpful manner .......and jjlandlord was certainly the most helpful!!

    /sigh

    when are you going to drop your attitude? if you are that offended with what you have been told then maybe you don't have a thick enough skin for being a landlord? all you have been doing since your thread is complain.
    When using the housing forum please use the sticky threads for valuable information.
  • tom9980tom9980 Forumite
    2K Posts
    Part of the Furniture 1,000 Posts Name Dropper I've helped Parliament
    Forumite
    100saving wrote: »
    Hello,

    can anyone give me feed back on the following Tenancy Deposit Schemes i'm looking at the follow 3:

    Deposit Protection Service (Custodial and Insured) - http://www.depositprotection.com

    MyDeposits - http://www.mydeposits.co.uk

    Tenancy Deposit Scheme - http://www.tds.gb.com

    I like the idea of Deposit Protection Service as its Custodial Scheme costs nothing. But which looks after the landlord the most? Which is easiest to use/control and update?

    I cannot give you any experience of using any of them however i have now crossed out DPS because of the poor service both tenants and landlords have reported during my recent research.

    Mydeposits charge more since you have to register as a new user.

    So i am going to be using TDS sometime in the next two months.

    it would be interesting to hear more from landlords and tenants who have used the dispute resolution from all the scheme's.
    When using the housing forum please use the sticky threads for valuable information.
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