Any private landlord with tenancies in England and Wales can join TDS Insured for Landlords, or TDS Custodial. When you have created an account download this Website User Guide for detailed instructions on registering a deposit. In TDS Insured, if you are a landlord, you need to create your free TDS for Landlords account.

If someone is paying money to you using Paym, they’ll only need your mobile phone number. There is usually a limit to the size and number of cheques you can pay, such as a maximum cheque size of £500-£1,000 per day. Data documentation should give future researchers sufficient information to be able to understand and reuse the data.

Ways to put money into your account

This ensures that the payment is credited to your application and your offer is accepted. For more information on setting up your account to make the payment visit the after you apply page. A tenant is entitled to a full refund of their holding deposit where a landlord or agent imposes a requirement that breaches the tenant fee ban. The maximum you can ask a tenant for is one week’s rent as a holding deposit. If you have more than one tenant and they are all jointly liable for the rent, you should charge them the amount they all owe together.

• This also extends to scenarios where the tenant is simply unresponsive.
• There is a supplementary provision within the legislation that will require an inventory to be provided in all circumstances.
• Private Insured Landlord members who protect deposits where they do not own the property or are not named as the landlord on the tenancy agreement risk termination of their membership.
• This item of legislation is currently only available in its original format.
• Landlords may state that this deposit or fee is to cover the costs of checking credit references or other administrative tasks and that it is not refundable.

The general rule against penalties is that if a clause is a penalty, it will not be enforced beyond the actual loss of the innocent party. However, if it is paid as a deposit, the amount does not have to be equal and can, in fact, be a lot more. The designated payment systems originally also included The Belfast Bankers’ Clearing Company (Northern Ireland Cheque Clearing), which no longer oversees cheque and paper credit clearing.

Join hundreds of thousands of landlords and agents using TDS’ best-in-class features and service to make their lives easier.

TDS members should protect the deposit, even if it’s paid to them in instalments. It is based on the number of deposits you are protecting, and discounts will be applied according to your performance in the previous year. If you already hold annual membership of TDS Insured, we will calculate your subscription for the next membership year by taking an annual snapshot of the data in your account.

Cash and cheques often go hand in hand with bank giro credits, or BGCs. If you’ve noticed the acronym at the bottom of a bill before, you might be wondering what does BGC mean exactly? We’ll discuss how a bank giro credit transfer works – and when to use it – below.

Paying a deposit in a shop

This means that if the contract is not fulfilled, the money will be returned (subject to any losses the seller may be able to claim if the buyer has cancelled in breach of contract). This is not the case if you, as the landlord, acted in such a way that it would be unreasonable to expect a tenant to enter into a tenancy agreement. If you think a landlord or letting agent bookkeeping for startups is not acting fairly or is being unscrupulous, then you can make an official complaint to the letting agent or landlord. If your complaint is not handled satisfactorily, then you may be able to refer the matter to a trade body or professional organisation (eg ARLA, NAEA, NALS, UKALA etc). However, there is a potential financial implication when it comes to tax.

Allow sufficient time during and towards the end of a project for these preparations listed below. Build in quality control checks for your data capture and cleaning processes. We understand things can change and that you may be unable to join us as planned.