Landlords avoiding Tenancy Deposit Scheme
The Guild of Residential Landlords (GRL) has become the latest organisation to assert that landlords are increasingly opting to get round the Tenancy Deposit Scheme (TDS) by simply not taking deposits at all.
All shorthold tenancies taking in rent of up to 25,000 per year must conform to the TDS following its launch in April, but last month the Residential Landlords’ Association (RLA) said that it had seen very few landlords take up its TDS option.
Now the GRL has said that some 80 per cent of its members are similarly reticent to use the new scheme following its introduction into the UK property market.
“The most popular outcome altogether is that landlords are choosing not to take a deposit […] by far and away that outstrips it all,” commented GRL director Adrian Thompson.
“Of the membership probably about 80 per cent are not taking a deposit. Then of that 20 per cent, about 80 per cent are using the custodial [tenancy deposit scheme],” Mr Thompson added.
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