In exciting news for tenants, landlords and letting agents in Seaford and the rest of the United Kingdom, the Tenancy Deposit Scheme (commonly referred to as the TDS) has launched a brand new charitable foundation. Its nominated goal is to help raise standards of practice in the private rented sector (usually shortened to PRS) and its benefits are set to be far-reaching.

The organisation is fully registered as a charitable incorporated organisation with the UK Charity Commission, which plays the role of regulating, monitoring and assisting charities all over the country. Registration enables beneficiaries of the TDS charitable foundation to have extensive access to important resources, including funding for education, training and a wide variety of projects. All in all, this means that the PRS can look forward to some worthwhile and extensive improvements. Everyone involved in the PRS can hope to gain.

The Chief Executive of the TDS, Steve Harriott, expressed excitement at the move. “Letting property unprepared leaves everyone open to risk,” he said. “We hope the TDS Charitable Foundation will help make support more accessible for landlords, letting agents and tenants.”

Harriott also pointed out that this support is urgently needed. The PRS has been receiving plenty of attention in the UK – in both the media and in the political arena. Disputes between tenants, landlords and letting agents are too often characterised by lack of information, confusion and incorrect expectations. On top of that, letting agents in Seaford and elsewhere gain their accreditation on a voluntary basis. However, problems needn’t be so frequent. There are ways to improve relations and increase the satisfaction levels of all parties – tenants, landlords and letting agents.

So, how will the TDS Charitable Foundation be funded? According to the TDS, most of the money is likely to be sourced from deposit payments that tenants have made yet never recovered. As difficult as it is to believe, this happens far more often than one would expect. Plenty of tenants fail to claim their deposits. Extensive searches are often unsuccessful in tracking these tenants down. In addition, the TDS Charitable Foundation will seek funding from organisations committed to providing grants.

Anyone interested in making an application for funding will be able to do so from April 2014. Applications should focus on bringing improvement to standards in the PRS. They might involve education of tenants; training for letting agents in Seaford and other areas of the UK; and information sessions for landlords.

Here’s hoping that the TDS Charitable Foundation will do much to promote positive relationships between tenants, landlords and letting agents in the PRS. Housing is a basic need and it’s one that should be accessible to everyone. At the same time, private property should, at all times, be treated with utmost care. Relationships in the public rented sector should be shaped by mutual respect and beneficial exchange.

If you have any questions, don’t hesitate to contact your Seaford letting agent for information, assistance and advice.