2. Protect each deposit
You have a choice of how you protect the deposit with mydeposits:
- Keep the deposit in your bank account using our insurance based product.
- Pass the deposit to us to safeguard with our free to use custodial product.
You’ll also need to provide some key details about the tenancy.
3. Inform your tenant
Pass the tenant proof of the protection (called the Prescribed Information) within the same 30 days of receiving the deposit.
We provide you with the majority of this information for you to pass on.
External adjudicators are important as this ensures a fair process for both the landlord and tenant.
I can print the certificate and paperwork instantly and my tenants are immediately reassured their deposit is protected safely.
mydeposits has always been helpful. It’s good to have them at the end of the phone if I have any queries.