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Who runs the Tenancy Deposit Schemes

If you are a tenant in the UK and you have paid a deposit to a landlord or letting agent it is highly likely that your deposit will need to be protected in a Tenancy Deposit Scheme.

Who runs the Tenancy Deposit Schemes?

The government has awarded contracts to three companies to run tenancy deposit protection schemes. These are the only ones where your money is safe. Anybody else offering a tenancy deposit scheme is not authorised by the government to protect your deposit and therefore it may not be secure. Your landlord or letting agent have the right to choose any of the three scheme's which every suits them best.

The Deposit Protection Service (The DPS)

The DPS is the only custodial deposit protection scheme, it is free to use and open to all landlords and letting agents. Your landlord or letting agent is transfer the deposit which you paid to the DPS and they will hold your money. The service is funded entirely from the interest earned from the deposits held within the scheme. Landlords and letting agents are able to register and tranfer your deposit online. Paper forms are also available and your landlord or letting agent can normally register over the telephone. The scheme is supported by a dedicated call centre and an independent dispute resolution service.

For more information, visit The Deposit Protection Service or call 0844 4727 000.

mydeposits.co.uk

mydeposits is a partnership between the National Landlords Association and Hamilton Fraser Insurance. This is an insurance-based tenancy deposit protection scheme which enables landlords, either directly or through letting agents, to hold deposits. Mydeposits charge landlords a one off fee of £60.00 and around £30.00 each time your deposits need to be registered.

For more information, visit mydeposits.co.uk or call 0844 980 0290.

The Tenancy Deposit Scheme (TDS)

TDS is an insurance-backed deposit protection and dispute resolution scheme run by The Dispute Service that builds on a scheme established in 2003 to provide dispute resolution and complaints handling for the lettings industry. The new scheme enables letting agents and landlords to hold deposits.

For more information, visit The Tenancy Deposit Scheme or call 0845 226 7837.



Comments

Links to the deposit protection schemes

Here are the links to the deposit protection schemes.

The Deposit Protection Service (The DPS) - www.depositprotection.com

mydeposits.co.uk - www.mydeposits.co.uk

The Tenancy Deposit Scheme (TDS) - www.thedisputeservice.co.uk

Do you have the websites for these..?

It would be useful to have some links on here... thanks

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