my|deposits, the biggest landlord provider of Tenancy Deposit Protection (TDP) in England & Wales, has announced it is to reduce its fees from the 1st April.
The changes, which recognise the rising value of deposits, mean that the scheme continues to provide benefits to its members regardless of the value of the deposit they take.
The new pricing means that landlords who take deposits of over £500 will be able to protect it for as little as £24* – a 20 per cent reduction from last year. It will cost only £18* to protect deposits under £500 in value.
The cost of protection covers the fixed term AST agreement period plus any statutory periodic extension.
Eddie Hooker, Chief Executive, my|deposits, said:
“As the largest landlord provider of deposit protection in England & Wales we must continue to invest in the scheme and we hope that these changes will help improve the experience for our members.
“Whether for landlords or agents we’ve reduced our prices year on year since 2007 and this year is no different. This is testament to why over 90,000 landlords choose for their deposit protection needs.
“The value of deposits taken by landlords is also on the rise and we wanted to recognise this by improving fees for those who typically take smaller deposits, too.”
For a full break down of new the pricing scheme, visit www.mydeposits.co.uk/landlords/pricing or call 0333 321 9401.
For further information about the kinds of support my|deposits offers landlords, visithttps://www.mydeposits.co.uk/landlords .
* Further discount are available to members of the National Landlords Association (NLA):
-£19.20 (deposits over £500)
-£14.40 (deposits under £500).
-Prices include VAT.