There are three schemes which are required to
be open to both private landlords and letting agents to join
and make use of if creating a new AST or a formal extension of a existing
unprotected AST.
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The Tenancy Deposit Scheme (TDS)
is an Insurance-based scheme run by an organisation called
The Dispute
Service and was established back in 2003 to provide independent dispute
resolution and complaints handling for the lettings industry. It has
been running a voluntary tenancy deposit scheme for use by regulated
agents since that time and is backed by the three professional bodies
for letting agents in the residential property sector, ARLA, NAEA and
RICS. For more information visit the website
www.tds.gb.com or call 0845 226
7837.
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Tenancy Deposit Solutions Ltd (TDSL)
is an Insurance-based scheme; it is a new company set up as a
partnership between the National Landlords Association and Hamilton
Fraser insurance brokers. For more information visit the website
www.mydeposits.co.uk/
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The Deposit Protection Service (DPS)
is the sole Custodial scheme - the running costs of this scheme are
funded entirely from the interest earned on all the deposits held by the
scheme. The Custodial scheme is run by Computershare who have
administered similar schemes for some years in other parts of the world,
particularly Australia and New Zealand. For more information visit the
website
www.depositprotection.com
Download an overview of
the
Tenancy Deposit Scheme
(105k)
