Hello all,
I'm new to the forum, but been a landlord of one property for three years.
I manage the property, but used an agent to complete the tenant's various background checks, draw up the contract and complete the inventory. The agent is a member of the ARLA Tenancy Deposit Scheme and holds the tenant's deposit of £1125.
Out of the blue the agent has asked for £60 "annual fee to continue to protect your Tenant's Deposit under the TDS scheme" as the agent is now facing "increased annual subscriptions for each deposit registered". Apparently I can pass this £60 on to the tenant.
Is the agent "trying it on"? Is there not a free government scheme I could transfer the deposit to? If I don't pay the agent within 14 days the deposit will be returned to the tenant, I will need a new tenancy agreement (for which they will no doubt charge more than £60) and of course have to get the tenant to put the deposit into a new scheme and gather all the relevant documentation.
I'm not sure there is any clear advantage in leaving things as they are with the agent and paying £60, other than the inconvenience/expense of changing to another deposit scheme.
If the agent is being reasonable (can forum members confirm similar actions?) I'm prepared to pay the £60 this year (and at least that amount each year from now on) to keep things simple. On the other hand if this is an example of sharp practice, perhaps I should tell the agent to get lost?
The agent generally has a good reputation in the area, and my tenant is one of the best you could wish for...
Thanks,
Ian
I'm new to the forum, but been a landlord of one property for three years.
I manage the property, but used an agent to complete the tenant's various background checks, draw up the contract and complete the inventory. The agent is a member of the ARLA Tenancy Deposit Scheme and holds the tenant's deposit of £1125.
Out of the blue the agent has asked for £60 "annual fee to continue to protect your Tenant's Deposit under the TDS scheme" as the agent is now facing "increased annual subscriptions for each deposit registered". Apparently I can pass this £60 on to the tenant.
Is the agent "trying it on"? Is there not a free government scheme I could transfer the deposit to? If I don't pay the agent within 14 days the deposit will be returned to the tenant, I will need a new tenancy agreement (for which they will no doubt charge more than £60) and of course have to get the tenant to put the deposit into a new scheme and gather all the relevant documentation.
I'm not sure there is any clear advantage in leaving things as they are with the agent and paying £60, other than the inconvenience/expense of changing to another deposit scheme.
If the agent is being reasonable (can forum members confirm similar actions?) I'm prepared to pay the £60 this year (and at least that amount each year from now on) to keep things simple. On the other hand if this is an example of sharp practice, perhaps I should tell the agent to get lost?
The agent generally has a good reputation in the area, and my tenant is one of the best you could wish for...
Thanks,
Ian