If your a Landlord

[Geo]

They just don't want people to profit from working hard -

 

You may be aware that the Scottish Government is introducing a new Tenancy Deposit Scheme (TDS). This has now been confirmed as coming into effect on the 2nd of July 2012 (please see attached copy of the current Scheme in England & Wales.) This will impact on both landlords and Managing Agents. Any Landlord or Agent who takes a deposit from their tenants for a “relevant tenancy” (as defined in the regulations), will be required to submit it to a pertinent Scheme. The current legislation in England and Wales is that all deposits must be submitted to a Scheme within 30 days and we anticipate that this will be the same in Scotland.

 

The main points of the Scheme are:

 

Ø Tenants’ Deposits will be held by the TDS and not by the Landlord or Managing Agent.

 

Ø All deposits will be returned to tenants at the end of their tenancy unless a dispute is raised by the Landlord or Managing Agent within a limited time frame (decided by the participating Scheme)

 

Ø An independent Adjudicator will make the final decision as to whether any or all of the deposit can be claimed by the Landlord.

 

 

 

The importance of a properly completed inventory cannot be underestimated and will be paramount to successfully resolving any disputes at the end of a tenancy. It must be robust and defensible if it is to be held up as a proper indicator of the facts and therefore viewed as acceptable by an adjudicator or Court. A tenant has no obligation to prove his argument because the deposit remains his property until successfully claimed for by the landlord or agent. A landlord or agent must prove that he has, on the ‘balance of probability’, a legitimate claim to retain all or part of the deposit and if he is unable to do so the disputed amount must be returned to the tenant.

 

 

 

In accordance with the arrival of the TDS we have improved and modified how we carry out inventories (as of 1 April 2012). We have decided to use The Inventory Manager (TIM) software. This software has been in use throughout England & Wales for over 4 years and is one of the market leaders in terms of its use. The inventories are very detailed and include time stamped photographs. We attach a sample inventory for you to see.

 

 

 

The additional measures we are taking are outlined below:

 

Ø New Inventories will be prepared for each property to include time stamped photographs.

 

Ø All properties will have check ins & check outs carried out using TIM.

 

Ø Quarterly inspections have been upgraded to include time stamped photographic evidence of any dilapidations

 

Ø New processes have been implemented to include professional carpet cleaning carried out at the end of every tenancy, rigorous monitoring of the condition of seals & grouting, PAT testing carried out in all properties and PIRs where required.

 

 

 

Due to the above legislative changes and resulting administration, additional charges will be incurred which we have ensured are kept to a minimum. The changes in fees are outlined below:-

 

Ø First TIM Inventory - £65.00

 

Ø Lease extension fee - £45.00

 

Ø Check in / check out fees - £95.00; this includes new time stamped photographic inventories which are to be taken at the check in and detailed photographs of any dilapidations taken at check out.

 

 

 

Merchant Lettings offer several levels of services to Landlords from Fully Managed to Let Only. If you are a Let Only Landlord this may be an ideal opportunity for you to review whether to move to a Fully Managed service which will ensure the best possible protection for you and your property at the introduction of TDS. If you would like to discuss the impact of the TDS on your particular circumstances please contact either Ross Macleod 07799 472100 or Roberto Taylor 07870 196664 or alternatively feel free to drop into any of our offices.

 

FUDS!!

[ozz]

I think its a great idea, I'm renting (and I've also been a landlord) and my deposit is held in a scheme - its a security deposit so I don't want the landlord spending it in one week then not having funds to pay me back if I leave. However...I don't agree with all those additional charges, it doesn't say those are mandatory though, just if you use them as a managed service I guess?

[Guigsy]

So is this to stop landlords saying "sorry the carpets needs replacing because you put a sofa on it... No deposit"

 

Because this has happened in every property iv rented even when you leave the property in great condition. They say it's returnable but never is because of that.

 

One place I left. Didn't get my deposit back. I argued and they said it needed professional cleaning and a new carpet. A month later my mate at work wanted a new place closer to the office so went to have a propper look. Before he moved in I asked if I could have a look. it hadn't been cleaned any more than what I'd done before I left. And the carpet hadn't changed.

[creative]

Without reading the wall of text....lol

 

This looks like the rental bond board over here. 4 weeks rent must be paid to the board and it's held in trust until a tenant vacates. If there are issues we have to make a claim on the bond to the tenancy tribunal and provide evidence. A tenant can also provide evidence and the tribunal rule. If we win the funds are released to us.

 

Bloody good system and keeps everyone honest.