“TDS Refreshed” – Annual Review of the Tenancy Deposit Scheme Published

Press release: 22/11/2011

The Dispute Service, the not-for-profit company responsible for operating the Tenancy Deposit Scheme, has announced its recovery from the previous year’s losses.

The improved financial performance has come through remedial changes to the subscription model, which has included a discounting mechanism of up to 60% for members with a lower level of disputes.

This has been achieved together with an increase in membership during the year from 3,598 offices in 2009/10 to 3,637 in 2010/11. The number of tenancies protected was down marginally from 969,810 to 960,148 but the value of the deposits safeguarded rose from £933,418,946 to £1,013,802,810. Operating surpluses for the year were £2.8 million.

Deposit disputes received rose from 12,164 to 13,847. However, the year saw a levelling off in the increase of the number of disputes referred. This is due to members resolving disputes locally instead of resorting to adjudication. The biggest single cause of disputes continued to be cleaning, followed by damages and re-decoration.

During 2010/11, the Contact Centre handled over 100,000 calls and responded to nearly 20,000 emails. Calls were answered on average within 15 seconds, against the government contract target of 90 seconds. Customer satisfaction ratings for the Centre among tenants, landlords and agents were very high.

New membership services introduced during the year included the formation of the Member Relations team, a highly successful countrywide programme of “Meet TDS Events”, the members e-newsletter, “TDS Update”, the E-Consultation Network and the Members Forum, drawn from a range of private sector rental operations.
                       
Launching the Annual Review, “TDS Refreshed”, the Chairman of the Dispute Service, Professor Martin Partington CBE, QC, said, “The whole company has worked magnificently to deliver cost effective customer service to all our members. This puts us in a very strong position to lead the way in tenancy deposit protection and to develop the business throughout the UK.”

“TDS Refreshed”, the Annual Review 2011 can be viewed on the Tenancy Deposit Scheme website www.tenancydepositscheme.com/annual-reports.html


Ends

Media contact Malcolm Harrison 020 7581 8335

22nd November 2011

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