Aidan J Reed News Article

TDS Increase Fees !

25th January 2010

Members of the Association of Residential Lettings Agents (ARLA) Aidan J Reed are horrified at the astronomical fee increases imposed on Agents for Tenancy Deposit Scheme Membership with the TDS. Agents up and down the country have been left angry and frustrated following receipt of invoices notifying agents of these unsubstantiated fee increases which are to be paid by the 31^st March 2010.

James Etty of Aidan J Reed confirms their fees for the forthcoming year have gone up by 901%. Over the hundreds of deposits Aidan J Reed have registered since the conception of mandatory deposit registration in April 2007 Aidan J Reed has only had one case go to arbitration!  James added “I was expecting an increase in fees; however, early indications from the TDS were that fees would be based on how many cases an individual firm had that had gone to arbitration. With only one case in nearly three years I was confident that any increase would be minimal and I certainly wasn’t expecting the 901% increase.” It would appear agents who strive to resolve issues before they go to the TDS are being penalised by unqualified letting agents struggling to perform the services to which they have been employed.

ARLA agents including Aidan J Reed will certainly be considering their options over the next few weeks.