On the 14TH December, Tenancy Deposit Scheme (TDS) launched a new app to help tenants manage their deposit directly from their smartphone. With the launch of the app, TDS continues to lead the way in digital innovation, being the first and only deposit scheme to launch an app.
The mobile app, which is free to download and use allows tenants to view the deposit in their account, make and respond to repayment requests at the end of the tenancy and submit their bank details.
Within the app, tenants can also activate and validate their deposit account at the start of the tenancy and respond to repayment requests at the end of their tenancy agreement. If they are a joint tenant and move out while other tenants remain, they can sort out their share of the deposit via the app once their landlord/agent releases it.
In the event of a deposit dispute, the app clearly shows tenants what deductions the landlord proposes to make from the deposit, and allows them to respond with their agreement to any or all of the deductions, or will take them to the main site if they do not agree and want to ask for an adjudicator to review their case.
The app also makes it easy for tenants to find relevant advice and easy-to-understand guides on deposit deductions. There is also an FAQ page where tenants can find information on the most asked questions.
There are benefits for landlords and letting agents, too. The app means that tenants will have easier access to their account, directly from their smartphone, so they are more likely to respond to a repayment request in a timely manner. Landlords and agents will experience an easier and more streamlined end-of-tenancy process. This leads to faster repayments and time savings for all.
“The TDS Custodial App for Tenants has been built to help tenants handle each stage of their tenancy deposit protection in one easy to use, secure location,” explained Alex Hillier, Director of Technology at TDS.
TDS Custodial: where TDS hold the deposit for the duration of the tenancy. Landlords, you can protect your deposits for FREE today.
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.
TDS can only comment on the process for our scheme, other deposit protection schemes may have a different process/require different steps. Content is correct at the time of writing.
All information is correct at the time of writing these views are those of the author alone and do not necessarily reflect the view of TDS, its officers and employees.