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my deposits custodial scheme

This means that they will soon be in a position to offer landlords and agents the option of using either a custodial or an insurance based protection service in England and Wales. If your landlord or letting agent has transferred the deposit to us, it will be in our custodial scheme. Deposit Protections that have passed their AST End Date that require action are now clearly highlighted. Q. TDS Custodial and My Deposits will hold the tenant’s deposit money for the duration of the tenancy. There is only one custodial scheme which is run by the Deposit Protection Service. Update: as from April 2016, all three schemes now operate a custodial scheme. The TDS Custodial scheme is free to use. Below we will summarise the difference between the two. Tenancy Deposit Scheme (TDS) is a Government-approved scheme for the protection of tenancy deposits; TDS offers both Insured and Custodial protection and provides fair adjudication for disputes that arise over the tenancy deposits that we protect.. I'm ready to activate my account I couldn’t find my deposit. In April 2007 the Government appointed mydeposits to operate an Insurance-based Tenancy Deposit Protection Scheme. This document contains the TDS Custodial scheme rules. Both the insurance and custodial schemes offer a free Alternative Dispute Resolution service if an agreement cannot be reached regarding the return of the deposit. The rules in this document do not apply to any other schemes which have been authorised to protect tenancy deposits. If the letting agent or landlord holds the deposit, then it will be in our insured scheme. Who is my|deposits? Within these three approved schemes, there are two types of scheme: custodial and insurance. Download the TDS Custodial App for Tenants: Login Information If you are an NRLA landlord you will need to login to the NRLA website , using your NRLA login, to add or manage TDS tenancy deposits. In the custodial scheme, your deposit will not be repaid automatically, even if your landlord has told us there are no deductions. How do I get my deposit back? No need to wait in a call queue. Firstly, you will want to check if your deposit is held in the TDS Insured or TDS Custodial schemes. Your online account is available 24/7. We Become a TDS Custodial member! Mydeposits has been given government approval to operate a custodial based tenancy deposit protection scheme in England and Wales from April 2016. Login to your account to: 02 How does the Custodial scheme work? You can now filter and sort your deposit protection history. The Schemes The Government awarded contracts to three companies to run its tenancy deposit schemes on 22 November 2006. 2.1 Each of the authorised tenancy deposit protection schemes has rules which landlords, agents and tenants must follow. How Custodial based deposit protection works: We are authorised by the Northern Ireland Executive to protect your deposit. Under custodial schemes, the landlord (or their agent) ... For example, insured deposit scheme provider My Deposit charge landlords £26 for deposits over £500. In previous blogs, we’ve discussed what changing tenants means for deposits, but there may also be repercussions when the management of the property transfers from an agent to a landlord. Deposit Protection Service (DPS) My Deposits; Tenancy Deposit Scheme (TDS) There are many other schemes available, but only these three are protected in law. Log in and take care of your deposit whenever you need to. We’re the UK’s largest provider of deposit protection, so your money is secure with us. 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