Contact Us. If there is a dispute over how much should be returned, we provide a free dispute resolution service. Tenancy Deposit Protection (TDP) schemes are companies approved by the government. Tenancy Deposit Protection (TDP) was first introduced in 2004 as part of the Housing Act. You can find our Insured scheme here. There are two basic types of deposit protection scheme. After researching the schemes available, I decided to use the TDS and have been very happy with the service and professionalism. Pay a small fee (Insured) or pass the deposit to us for free (Custodial). Tenancy deposits are there to act as a safeguard for the landlord. Tenancy deposit schemes Once your new tenant has paid the deposit for the property, you have to lodge it with a tenancy deposit scheme within 30 working days of the tenancy starting. The Tenancy Deposit Scheme is a not for profit company and has a wide range of useful information on its website (www.tenancydepositscheme.com). When to lodge a deposit: Since 2 October 2012 any new deposits taken from the tenant must be lodged within 30 working days. Find out more about our services today. TENANCY DEPOSIT FEES. From 2007, UK landlords have been legally required to protect their tenants’ deposits in a government-approved tenancy deposit protection scheme. There are three government-backed deposit protection schemes: Deposit Protection Service (DPS), MyDeposits and Tenancy Deposit Scheme (TDS). Once you've paid the deposit for the property, your landlord or letting agent has to lodge it with a tenancy deposit scheme within 30 working days of the beginning of the tenancy. Within these three approved schemes, there are two types of scheme… TDS insure the deposit they do not hold it; The landlord or agent holds the deposit in their own account; The deposit protection certificate ID looks like uh7sbj8gk ; The landlord or agent paid a fee for deposit protection; Your TDS Deposit protection certificate will look like this: Custodial Scheme. What are the costs to a landlord? With both Custodial and Insured options, we have your deposits covered. You choose between Insured Protection (you hold the deposit) and Custodial Protection (we hold the deposit). If you pay a deposit when renting a property, your landlord must use a tenancy deposit protection scheme to safeguard it. This Practice note explains Tenancy Deposit Schemes (TDSs), which became compulsory for all residential assured shorthold tenancies (ASTs) created on or after 6 April 2007. If your landlord won't return your deposit or wants to make deductions, you can use the scheme's dispute resolution service to decide how much you get back. Once you … Tenancy Deposit Scheme. Become a TDS Custodial member! We protect your tenancy deposits, with the reassurance that disputes arising at the end of the tenancy will be resolved quickly, fairly and for free. The Deregulation Act 2015 further amended the regulations from 26 March 2015. We are a not-for-profit company authorised by the Department for Communities to operate custodial and insurance based tenancy deposit protection schemes in Northern Ireland. I also used the guides to manage landlords expectations, thank you! LOGIN ACTIVATE ACCOUNT IS MY DEPOSIT PROTECTED? There are 3 deposit protection scheme providers.Your landlord or agent can choose which scheme to use. So it absolutely is essential that landlords register the deposit within the required timeframe and provide … These are custodial and insurance. Tenancy deposit protection schemes can be one of two kinds: Custodial – this is where the scheme itself holds the deposit during the tenancy. These types of scheme can help you rent privately by providing either: cash to help with a deposit and rent in advance. The scheme applies to tenants who rent from a private landlord or letting agent, have an assured shorthold tenancy (which is the case in most tenancies) and who put down a deposit. A tenancy deposit is money paid by a tenant to their landlord. I have used TDS since it’s inception and still find it the best of the deposit providers. (Custodial scheme only) If the other party does not agree with your request for repayment at the end of the tenancy, they … Is because the DPS ’ s not compulsory to take a holding deposit the. Tenants has left … deposit protection scheme to use and if we ever need assistance our are. Scheme … there are many other schemes available, I ’ ve used the TDS and been! 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