Tenancy Deposit Protection
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.
- The Tenancy Deposit Scheme (TDS)
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.
- Tenancy Deposit Solutions Ltd (TDSL)
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/
- The Deposit Protection Service (DPS)
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)
