£2 Billion in Tenants Deposits Protected as Tenancy Deposit Scheme goes into New Financial Year

The Tenancy Deposit Scheme goes into a new financial year next month having protected over £2 billion in tenants deposits since the scheme started in 2007 and offering the most competitive rates per tenancy. This has been achieved in the face of 17,134 tenancies ending in dispute

Through well over 4,000 letting agents’ branches, the Scheme currently protects 1.5 million tenants, housed through close to a million tenancies. At the same time there are significant new member benefits in hand.

From next month, smaller lettings businesses, those with less than 50 tenancies, will see their annual subscriptions fall substantially from £750 to £500 a year. This reduction is coupled to a new discount structure that will result in a high proportion of all member firms paying less than £6 for each new tenancy registered.

The already successful “Meet the TDS” events are being scheduled all around the country to give members an in-depth insight into the way adjudication works. These are working in tandem with new consultation programmes and e-newsletters and an active member relations team.

Commented the Scheme’s Chief Executive, Steve Harriott, “We are going into 2011-2012 with the Tenancy Deposit Scheme in the strongest possible position to provide its members with highly competitive rates, a more focused customer service and increasing standards of efficiency.”

28th March 2011

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