about the Tenancy Deposit Scheme

Ashton Burkinshaw has been a member of the TDS since it was first developed by ARLA. Before that the Company was involved in the Pilot TDS funded by the Government. This pilot scheme ran for 4 years and proved the need for protection of deposits and the provision of a quick, affordable Dispute Resolution Service.

When the Government withdrew its funding of the Pilot, ARLA set up its own scheme for regulated agents. RICS and the NAEA quickly joined and now this is a strong, respected scheme which has been welcomed by all parties including the Government, Landlords and Tenant Groups.

Legislation is on its way in April 2007 to ensure that Tenants' deposits are held safely. Because of the high standards that regulated agents adhere to they are seen to be fit to continue to hold Tenant's deposits. All agents and private landlords, who are not in a scheme, will have to hand over the deposits to a Custodial Scheme which will keep the deposits for the duration of the tenancy and settle the monies at the end.

The benefits of belonging to the TDS are great.

To the Landlord it gives a real marketing edge:

Tenants will be looking for TDS membership when they are searching for a property.
Those properties not included will be the Tenant's last choice from the list.
Should a dispute arise it will be dealt with quickly; settlement will be within 10 working days of the paperwork being submitted to the Adjudicator. This contrasts hugely with the long delays for court action.
The Adjudicators are specially trained in deposit matters so their judgements are very reliable and fair to both sides.
There is no cost for an adjudication.

To the Tenant it gives real peace of mind:

The deposit will be securely held in a client account for the duration of the tenancy.
The money will not be used without the Tenant's agreement.
The Adjudicators are specially trained in deposit matters so their judgements are very reliable and fair to both sides.
The deposit will be settled quickly allowing them to move on to another property without having to take up lengthy loans to tide them over court delays.
There is no cost for an adjudication.

Once again AB is at the core of the Letting Industry's development and its Landlords and Tenants are the ones to benefit from its innovative approach.

Full details of the TDS can be found on www.tds.gb.com.