23 February 2012
my|deposits, a leading provider of tenancy deposit protection in England and Wales, has thrown its weight behind the SAFEagent campaign by offering its registered agents heavily reduced fees.
From 5 April 2012, SAFEagent registered agents can protect tenancy deposits for just £10 (plus VAT) with mydeposits. Letting agents accredited to bodies such as NALS, ARLA, NAEA and RICS will also benefit from a new lower protection fee of only £12 (plus VAT) per deposit.
The one off membership fee for these agents has also been slashed to just £50 (plus VAT).
Eddie Hooker, Chief Executive, my|deposits, said:
“Whilst we are still open to all letting agents, we want to support those agents who are prepared to take that extra step and make a positive difference in the sector. As a leading provider of deposit protection for letting agents it is only right that we reward agents with Client Money Protection with reduced fees.
“Thanks to our flexible and popular pay-as-you-go payment model, our agent members are only charged for the deposits they protect, rather than a rigid annual model. That’s meant our pricing policy has remained stable for five years, allowing us to develop and invest in important areas of the business, particularly dispute resolution.
“Our online dispute service is unique to mydeposits and is part of the reason why formal disputes are resolved on average within just 15 days of receiving the dispute evidence from the parties.”
John Midgley, chair of the SAFEagent Steering Group commented:
“We welcome this move by my|deposits in support of the SAFEagent campaign. It is an excellent example of industry co-operation which will amplify the message we want to deliver to consumers as well as rewarding those agents who have signed up to the SAFEagent mark.”
For a full break down of new the pricing scheme, please visit www.mydeposits.co.uk/letting-agents or call 0844 980 0290.
For further information, please contact:
T: 020 7840 8925
M: 07508 031 084
NOTES TO EDITORS:
Mydeposits 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. 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. Registered members of the Scheme are able to protect and unprotect deposits at the beginning and end of tenancies. Fees are tax-deductible. 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.