TDS Custodial protection explained
At the start of a tenancy, you transfer your deposit to us and we keep it in a secure bank account for the duration of the tenancy.
At the end of the tenancy, we administer the repayment to you and the tenant, after you both agree how much money should be released. If you and your tenant cannot agree, we provide impartial adjudication to resolve the dispute.
Custodial deposit protection is ideal for landlords who don’t want to hold the deposit themselves.
TDS’ custodial scheme is completely free for landlords to join and use.
Why you need to protect your deposit
The Housing Act 2004 requires assured shorthold tenancy deposits to be protected in a government-backed tenancy deposit scheme, like ours. Deposits must be registered within 30 days of the start of the tenancy.
At the end of the tenancy, the landlord or agent has 10 days to return the deposit to the tenant, once an amount is agreed. If there is a dispute over this, the deposit will be protected by the tenancy deposit scheme until the issue is resolved by its dispute resolution service.
About TDS
Tenancy Deposit Scheme (TDS) is the longest running insured deposit protection scheme in the UK. We offer both insured and custodial protection and provide impartial adjudication for disputes that arise over the deposits we protect.