Want to know more about tenancy deposits?
Your deposit must be registered with one of these three schemes
Deposit Protection Service (DPS)
MyDeposits
Tenancy Deposit Scheme (TDS)
There are two types of scheme :- custodial and insurance-based. Any landlord can use the custodial scheme but there are some restrictions on who can use the insurance-based schemes
The only two insurance-based providers are:
MyDeposits
Tenancy Deposit Scheme (TDS)
You can only use the TDS if you belong to an approved professional body – like a trade association – where members must have client money protection insurance.
The Deposit Protection Service (DPS) is a custodial scheme. There is no charge for landlords or letting agents to use the custodial DPS
The TDS produces a Adjudication Digest on a regular basis which gives anonymous examples of deposit disputes.