#AskTDS: “Why should I join TDS?”
In this week’s #AskTDS, Kelly Wallace, Senior Business Development Executive at TDS, answers a letting agent’s question: “Why should I join TDS?”
TDS Northern Ireland (TDSNI) is approved by the Department for Communities in Northern Ireland, providing Insured and Custodial tenancy deposit protection schemes.
Operating since April 2013, TDSNI is the only not-for-profit deposit protection scheme in Northern Ireland. Currently, we protect 50,000 deposits across Northern Ireland, and offer a free alternative dispute resolution service to help resolve any disputes that may arise between landlords, agents and tenants.
We pride ourselves on delivering outstanding customer service to all our clients. We have won independent recognition with a range of awards including the Customer Service Excellence Award, and we have recently been shortlisted in The Negotiator Awards 2018 and Landlord Investment Show Awards 2018, while TDS Northern Ireland won Best in Sector in the ESTAS Awards for the last 3 years.
TDSNI offers membership routes to suit everyone whether you’re a landlord, letting agent, property investor or local authority. We recognise that those in the lettings industry may want different things from their deposit protection scheme and at TDS we offer deposit protection under one roof with both Insured and Custodial options.
TDS Custodial
Under this scheme, TDSNI holds the deposit money throughout the duration of the tenancy. The Custodial scheme is completely free for everyone and there are no membership requirements such as regulatory body status. You can join the scheme instantly online and commence lodging deposits with us straight away.
TDS Insured
Under the Insured scheme, the agent or landlord holds the deposit money and pays TDSNI a fee to protect the deposit. To join TDS Insured as an agent member, simply complete the application form and submit this to us. Once we have confirmed the membership requirements have been met, we can welcome you in to membership and you can commence registering tenancy deposits.
Alongside our core focus of deposit protection and dispute resolution, we strive to educate agents, landlords and tenants about their deposit protection responsibilities and endeavour to raise standards in the private rental sector through a range of mediums such as guidance documents, publications and seminars as well as through our TDS Academy and TDS Charitable Foundation.
About the Author
Kelly Wallace has been part of The Tenancy Deposit Scheme for four years, initially within the Dispute Resolution team, progressing to a central role within the Customer Relations department and now the Senior Business Development Executive. Kelly’s focus within TDS is membership, business development and growth; this encompasses all aspects of new business across both the Insured and Custodial schemes.
About TDS
Tenancy Deposit Scheme (TDS) is a Government-approved scheme for the protection of tenancy deposits; TDS offers both Insured and Custodial protection and also provides fair adjudication for disputes that arise over the tenancy deposits that we protect.
We provide invaluable training in tenancy deposit protection and disputes for agents and landlords through the TDS Academy as well as joining with MOL to provide the Technical Award in Residential Tenancy Deposits.
TDS Insured Scheme: where a TDS member can hold the tenancy deposits as stakeholder during the term of the tenancy.
TDS Custodial Scheme: where TDS hold the deposit for the duration of the tenancy.
TDS Academy: TDS provides property professionals with invaluable training in tenancy deposit protection and tenancy deposit disputes.
TDS Northern Ireland: TDS is Northern Ireland's leading and only not-for-profit tenancy deposit protection scheme.
TDS can only comment on the process for our scheme, other deposit protection schemes may have a different process/require different steps. Content is correct at the time of writing.
These views are those of the author alone and do not necessarily reflect the view of TDS, its officers and employees.
ARLA | Propertymark: For agents who would like to stay up to date, you can contact ARLA | Propertymark at: join@propertymark.com. By being a member of ARLA | Propertymark you will be eligible for TDS Insured best headline rates.
RLA: If you are a landlord and would like to keep up to date with any changes that may affect you or your responsibilities, you can contact the RLA at: info@rla.org.uk and quote reference: dg715 to receive 25% off your first year's membership.