Who Runs The Schemes
Who Runs The Schemes
Tenancy Deposit Protection Schemes?
Who runs them
The Government has awarded contracts to three companies to run tenancy deposit protection schemes.
The Deposit Protection Service (The DPS)
Tenancy Deposit Solutions Ltd (TDSL)
The Tenancy Deposit Scheme (TDS)
The Deposit Protection Service (The DPS)
The DPS is the only custodial deposit protection scheme, is free to use and open to all Landlords and Letting Agents. The service is funded entirely from the interest earned from deposits held. Landlords and Letting Agents will be able to register and make transactions online. Paper forms will also be available should internet access be an issue. The scheme will be supported by a dedicated call centre and an independent dispute resolution service.
In addition to protecting Deposits within fourteen days of receipt, Landlords/ Lettings Agents must ensure that they comply with The Housing (Tenancy Deposits) (Prescribed Information) Order 2007.
The DPS cannot do this for Landlords, but have produced a Prescribed Information template
for information purposes only.
You can use this document as a template but it is your responsibility to ensure that it is correctly completed and served on the Tenant(s) within fourteen days of receiving the Deposit. You must ensure that you give the Tenant(s) an opportunity to sign the Prescribed Information by way of confirmation that its contents are correct.
For more information, visit the website below or telephone 0870 707 1 707.
Tenancy Deposit Solutions Ltd (TDSL)
TDSL is a partnership between the National Landlords Association and Hamilton Fraser Insurance. This insurance-based tenancy deposit protection scheme enables landlords, either directly or through agents, to hold deposits. Letting agents can also join the scheme.
For more information, visit the website below or telephone 0871 703 0552.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 website below or call 0845 226 7837.
