Landlord Deposit protection from the experts

mydeposits offers two landlord deposit protection schemes, Insured or Custodial. Landlords partne

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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 or custodial protection options.

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Free resolution

If you If you and your tenant disagree on any proposed settlements 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.

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

 

Once you have protected the 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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1

You hold the deposit

You must keep hold of your tenant’s deposit for the length 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 with their request to mydeposits within three months of  moving out of the property.

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We hold the deposit

We hold your tenant’s deposit for the length 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 start the deposit release once the tenant has moved out of the property.

Tenant provides all evidence with their request to mydeposits within three months of moving out the property.

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Payment of interest to tenants

If your tenant’s deposit is held with us in our custodial deposit protection scheme, after 182 days they will earn interest on it. This means that at the end of the tenancy your tenant may be entitled to receive the interest earned in addition to their deposit.

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We offer a free, impartial formal 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 from the deposit.

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

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