my|deposits has today received approval from the Government to continue to operate a Tenancy Deposit Protection (TDP) scheme in England and Wales after a successful procurement process.

The announcement marks another positive outcome in what has been a great year for the scheme. After being given the green light by Scottish Government in May for its sister scheme my|deposits Scotland to operate TDP north of the border, the company was also awarded the Investors in People Standard for staff development and training in August.

Eddie Hooker, CEO of my|deposits commented: 

“We’re pleased to announce we’ve been given the go ahead to continue to support landlords, letting agents and their tenants in England and Wales and we look forward to building on the successes of this year.

“We’ve consistently met performance targets set by the Government since 2007 and have protected more than £1.6 billion worth of deposits on behalf of over 90 thousand members.

“We have over 5 years’ experience of providing TDP so we understand what landlords and letting agents need and we’re dedicated to improving the service we provide without it impacting on cost.”

TDP requires all deposits taken by landlords and agents on rental properties to be legally protected within a government authorised scheme such as my|deposits. Landlords and agents must also provide tenants with the prescribed information* within a 30 day period once they have received the deposit.

To access free guidance and advice including case studies on real life disputes, visit www.mydeposits.co.uk or check out the video resources available at my|deposits TV - http://www.youtube.com/user/mydepositstv.

For further information about the support my|deposits can offer, call 0844 980 0209 or follow us on Twitter @mydeposits.

-ENDS-

*The Prescribed Information is defined by the deposit protection scheme and includes information about the tenancy, the property, the landlord and tenant’s personal information and deposit protected.

For further information, please contact:

Sam Haidar

Senior Press Officer

www.mydeposits.co.uk

E: sam.haidar@mydeposits.co.uk

T: 020 7840 8925

M: 07508 031 084

NOTES TO EDITORS:

About my|deposits:

1. my|deposits is the trading name of Tenancy Deposit Solutions Limited, a company jointly owned by the National Landlords Association and HFIS plc T/A Hamilton Fraser Insurance (the Scheme Administrator) to deliver an insurance-backed tenancy deposit protection scheme under contract from Communities & Local Government.
2. my|deposits aims to support landlords and agents to comply with the legislation and provide everyone with the confidence that deposit money is held securely for the duration of the tenancy.
3. Landlords and letting agents wishing to use this scheme are required to register with the Scheme Administrator. They can find out more and register by visiting www.mydeposits.co.uk.
4. Registered members of the Scheme are able to protect and unprotect deposits at the beginning and end of tenancies. Fees are tax-deductible.
5. In the event of a dispute at the end of the tenancy agreement, both parties are offered access to alternative dispute resolution (ADR). This procedure will be evidence-based, relying on documentation and records.
6. Tenancy Deposit Protection (TDP) was introduced in April 2007 by the Housing Act 2004 as part of a package of measures to raise standards in the private rented sector.