Deposit Protection Schemes

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This topic contains 1 reply, has 2 voices, and was last updated by  committeehelen 1 year, 1 month ago.

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    Of course, I know the importance of protecting my tenant’s deposit within 30 days of getting it, and I know that there are three approved schemes. Details of these are available on Gov.UK:
    Each of the three schemes offers a choice:
    * the scheme hold the deposit for free – known as a ‘custodial’ scheme
    * you or the agent holds the deposit and you pay the scheme to insure it – known as an ‘insured’ scheme

    I’d really appreciate hearing other landlord’s experiences of these two choices. I use a custodial scheme, which has worked well. However, I am wondering if an insurance scheme would enable an Ethical Landlord to return the deposit more quickly, as set out in the Charters?



    I’ve used one of the custodial schemes which recently returned my tenant’s deposit within a very few days. It would have been even faster if the tenant used the internet, rather than having to negotiate via a family member’s email account. It helps if both landlord and tenant keep their reference numbers safe for the period of the tenancy – which of course may be much longer than initially envisaged! However the helpline was good in chasing this up.

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