my|deposits, the tenancy deposit protection (TDP) scheme in England and Wales, has revealed that the overall life span of its disputes has decreased over the past year despite handling a greater number of adjudications.

my|deposits offers free and impartial alternative dispute resolution (ADR) to landlords and tenants in who are unable to come to an agreement over the return of a deposit at the end of the tenancy.

The latest figures show that between April and August this year my|deposits have dealt with almost a quarter (24 per cent) more adjudications cases than during the same period last year. However, despite the increased workload the scheme has successfully reduced the total time taken to resolve a dispute by three days (from 58 to 55) over the last year.

Furthermore, the scheme can also reveal that four out of every ten disputes it helps resolve over deposit returns, mainly more complex cases, are decided independently by the Centre for Effective Dispute Resolution (CEDR). 

Commenting on the scheme’s approach to adjudications, Eddie Hooker, Chief Executive, said:

“my|deposits works to strict performance indicators when dealing with disputes so we’re delighted to report that we’ve reduced the overall time taken to resolve deposit issues between landlords, agents and their tenants.

“While we have a team of professional adjudicators on hand to effectively resolve disputes, we are the only TDP scheme to outsource disputes externally to the Centre for Effective Dispute Resolution (CEDR) - the leading independent commercial ADR provider in Europe.

“By splitting the number of adjudications we handle internally and between CEDR, we provide vital assurances to landlords, agents and their tenants that the service we offer is professional, fair and transparent and that we are committed to cutting the cost of our dispute resolution.”

my|deposits has also launched a new set of ‘how to claim’ guidance for landlords and agents which outlines key considerations when submitting evidence for dispute cases. The guidance, along with a host of other useful resources and advice, are available from the my|deposits website:

• Landlords - http://www.mydeposits.co.uk/landlords/resources-and-guides/guides 
• Letting agents – http://www.mydeposits.co.uk/letting-agents/resources-and-guides/documents 

For further information about my|deposits, visit www.mydeposits.co.uk or call 0844 980 0290.

-ENDS-

For further information, please contact:

Sam Haidar

Senior Press Officer

my|deposits

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 in England and Wales.
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.

About CEDR

The Centre for Effective Dispute Resolution is the leader in the development of neutral-assisted dispute resolution. It is a non-profit organisation and its mission is to encourage and develop cost effective dispute prevention and dispute resolution in commercial and public sector disputes and in civil litigation. CEDR operates in the UK and internationally and has been instrumental in helping to bring mediation into the heart of business practice and into judicial systems. CEDR Mediator Accreditation is recognised as an international standard.

CEDR Solve, Europe’s leading commercial mediation provider, is CEDR’s dispute resolution and prevention service and has managed over 17,000 dispute cases covering every industry sector and a wide-raging cross section of disputes and case values.  More information is available on CEDR’s website www.cedr.com.

For more information on CEDR please visit www.cedr.com