Agents
Letting agents: Are you considering switching to mydeposits? Read our Q&A sheet [
274KB] for all you need to know.
What does it cost?
mydeposits is a "pay-as-you-go" scheme:
Agent Category |
Joining Fee |
Deposit Protection Fee (per tenancy Agreement) |
Annual Membership Renewal Fee |
Category 1 |
£117.50 (incl VAT) per branch location |
£23.50 (incl VAT) |
£58.75 (incl VAT) per branch location |
Category 2 |
£176.25 (incl VAT) per branch location |
From £38.78 (incl VAT) dependent on |
£88.13 (incl VAT) per branch location |
- One-off Joining Fee per branch location to set up your account, and then an annual fee to keep your account open.
- A fixed Deposit Protection Fee for each tenancy deposit that you protect, regardless of the size of the deposit. This will protect the deposit for the duration of the Tenancy Agreement
, however long that might be. - Discounts available for pre-purchased blocks of protections:
Number of Protections |
Discount Available |
40 protections |
5% discount |
60 protections |
7.5% discount |
100 protections |
10% discount |
200 or more protections |
20% discount |
- Payment options:
- by monthly account (payable by direct debit only)
- by credit/debit card at point of protection
- or by pre-purchased blocks (see above)
- Agents must hold the protected deposit in a segregated client money bank account (you may be asked to provide evidence of this account).
- You must supply a copy of your latest company financial accounts and details of all shareholders, partners, directors and business owners.






