Landlords and letting agents have greater choice over how they safeguard tenancy deposits with the launch of a new free-to-use Custodial service by the Tenancy Deposit Scheme (TDS) on 1st April 2016.
The launch of TDS Custodial means that for the first time ever those who would prefer to protect deposits in a Custodial-based scheme, in which the money is held by the scheme for the duration of the tenancy, now have a choice of provider.
TDS Chief Executive Steve Harriott said: “As the UK’s leading provider of tenancy deposit protection, we know that landlords and agents in the private rental sector want more choice when it comes to meeting their legal obligations to protect tenancy deposits.
“The launch of TDS Custodial now gives them that choice, providing a fast, free and secure service that removes the hassle from protecting their tenant’s money. Those who make the switch to TDS Custodial can expect a quick transfer of the deposit into our scheme at the start of the tenancy, and an even quicker repayment once the tenancy comes to an end. It really couldn’t be simpler.
“And the change needn’t be complicated either. We want to make the move to TDS Custodial hassle-free too, with our award-winning customer service team here to ensure the transition to TDS Custodial is as easy and smooth as possible.”
TDS already has a proven track record of safeguarding £1billion of tenancy deposits in its award-winning Insurance-backed scheme, the first of its kind when it launched in 2007.
As the UK’s only not-for-profit provider, TDS is committed to raising standards in the private rental sector, reinvesting its surpluses in education, training and promoting good practice.
To register with TDS Custodial, click here.