Information for Agents
What is the Tenancy Deposit Scheme?
The Tenancy Deposit Scheme offers multi-award winning insurance backed deposit protection and alternative dispute resolution. We were named Tenancy Deposit Service of the Year 2012 and following rigorous assessment were awarded the Government Standard for Customer Service Excellence.
Our status as the only not for profit scheme means we offer market leading rates for deposit protection, and are focused solely on stakeholders, not shareholders.
Click here to become a member of the Tenancy Deposit Scheme.
How does the Tenancy Deposit Scheme work?
This is a summary for landlords and agents of how deposits are protected with the Tenancy Deposit Scheme.
You receive the deposit from the tenant
Within 30 days, enter details of the deposit on the TDS database to protect the deposit. You must also give the tenant 'prescribed information' - documents showing how the deposit is protected and a leaflet about TDS.
You keep hold of the deposit during the tenancy and it is protected by TDS's insurance.
At the end of the tenancy, you decide if you want to make deductions from the deposit. When all parties are agreed on the deductions, you return the agreed amount directly to the tenant and update the TDS database.
If you and the tenant can't agree on deductions, you can consider raising a tenancy deposit dispute with the Tenancy Deposit Scheme. We provide free, impartial adjudication to decide how the deposit is divided.
You can find more information about tenancy deposit protection and tenancy deposit disputes in this leaflet, A Guide to Tenancy Deposits, Disputes and Damages.
