Deposit protection by deposit experts

mydeposits is the only place that offers all three deposit protection options. Landlords partner with mydeposits to make deposit protection easy.

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Why choose mydeposits?

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Choice

You choose how to protect your tenants’ deposits. Protect with either our insured, custodial or deposit replacement options.

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Free resolution

If you can’t agree with your tenant at the end of the tenancy, you have free access to our award winning adjudication service.

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Partnered with NRLA

Backed by leading landlord association NRLA, helping to raise standards in the private rented sector.

I have a new tenant. What do I need to do?

I have a new tenant. What do I need to do?

Step 1

Choose

Before taking a deposit, choose how you would like to protect it. You can protect the deposit for free and send it to us or pay a fee and keep hold of it, or offer our deposit replacement service.

If you have taken a cash deposit, you must protect it in an insured or custodial government authorised scheme within 30 calendar days.

If your tenant would like to opt for a deposit replacement you can invite them from the portal to create a membership.

Once you have protected the cash deposit, we will give you the prescribed information. You must give this to your tenant (and anyone who contributed to it) within 30 days of them first giving you the cash deposit. This will include the certificate and other information.

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Insured

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You hold the deposit

You must keep hold of your tenant’s deposit for the duration of the tenancy.

You pay a small fee to protect each deposit.

Give the tenant the prescribed information immediately after protecting the deposit.

You can return the deposit as soon as the tenant has left the property.

Tenant provides all evidence and submits a dispute with mydeposits within three months of vacating the property.

Custodial

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We hold the deposit

We hold your tenant’s deposit for the duration of the tenancy.

There is no fee for using Custodial.

Once the money clears you can give the Prescribed Information to your tenant.

You or your tenant can initiate the deposit release once the tenant has left the property.

Tenant provides all evidence and submits a dispute with mydeposits within three months of vacating the property.

Replacement

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Deposit free

You receive five weeks’ rent value of protection and do not need to take a deposit.

It is free for landlords to offer a Deposit Replacement.

There is no prescribed information requirement when using a Deposit Replacement.

Your tenant must settle any breaches of your tenancy agreement.

You provide all evidence and submit a dispute with Ome within two months of the tenant vacating the property.

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We offer a free, impartial dispute resolution service, for you.

When it comes to the end of a tenancy...

When you reach the end of the tenancy you and your tenant might not agree on any deductions to the deposit.

Don’t worry, we offer a completely free dispute resolution service for all of our customers.

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