3 February 2010
mydeposits.co.uk, a Government approved tenancy deposit protection scheme, has responded to The Dispute Service (TDS) announcement that it will revise its pricing structure.
Eddie Hooker, Chief Executive, mydeposits.co.uk, said:
“This apparent U-turn on subscription prices appears to change nothing for most letting agents. In fact, TDS admit that for 90 per cent of firms current invoices will not change. The majority of agents will not see any benefit from this climb down, which still leaves them out of pocket. Agents may also have concerns about the pricing level TDS will set for the second installment due in July.
“Mydeposits can reassure letting agents it continues to offer competitive, robust pricing, while providing external, independent adjudication. This won’t be changing.
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NOTES TO EDITORS:
Mydeposits is the trading name of Tenancy Deposit Solutions Limited, a company jointly owned by the National Landlords Association and HFIS plc T/A Hamilton Fraser Insurance (the Scheme Administrator) to deliver an insurance-backed tenancy deposit protection scheme under contract from Communities & Local Government. Landlords and letting agents wishing to use this scheme are required to register with the Scheme Administrator. They can find out more and register by visiting www.mydeposits.co.uk. Registered members of the Scheme are able to protect and unprotect deposits at the beginning and end of tenancies. Fees are tax-deductible. In the event of a dispute at the end of the tenancy agreement, both parties are offered access to alternative dispute resolution (ADR). This procedure will be evidence-based, relying on documentation and records.