A new tenancy deposit protection scheme for private sector landlords is being launched this week by the Tenancy Deposit Scheme, in association with the Residential Landlords Association.
The TDS, which protects more deposits than any other scheme, has been primarily available to regulated letting agents.
The new scheme, DepositGuard, is being marketed by the RLA, and will be a competitor with mydeposits, a deposit protection scheme launched by the National Landlords Association.
DepositGuard is an insurance-backed scheme. It permits landlords to hold deposits throughout a tenancy and to use the dispute resolution service. RLA members can register with the scheme for free and protect deposits from £15.
The Online Letting Agents are able to protect your deposit in the Tenancy Deposit Scheme, for a fee of just £10 per deposit. Please click here to find out more.