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Why use a Tenancy Deposit Scheme?

An Insured deposit scheme allows landlords or agents to hold the tenants deposit for the duration of the tenancy. In return, they pay a fee to the scheme to protect the deposit. This ensures that the tenants money is safeguarded, even in the event of a dispute.

Is the Tenancy Deposit Scheme legit?

If you have an assured shorthold tenancy, your deposit must be protected in a tenancy deposit scheme (TDP) until you move out of the property. The scheme keeps your money safe and makes sure you get back what youre owed at the end of your tenancy.

Who pays for a Tenancy Deposit Scheme?

There are two types of scheme available: A custodial scheme, where the landlord or agent pays the deposit to the scheme, which will keep it until the end of your tenancy. An insurance scheme, where the landlord or agent keeps the deposit but pays insurance premiums to the scheme.

What is the Tenancy Deposit Scheme?

Tenancy Deposit Scheme is a government approved tenancy deposit protection scheme in England and Wales operated by TDS, the UKs leading provider of deposit protection and resolution services. There is a legal requirement for landlords and letting agents to protect deposits on assured shorthold tenancies.