Make deposit protection the easiest part of your day
At The DPS, we know your days are busy. That’s why we’ve made deposit protection surprisingly easy for you.
- Choose FREE Custodial deposit protection, or Insured protection for a small fee!
- No annual membership charges, renewal fees or hidden costs.
- Our simple online service is easy to use and on-hand 24/7, more time for you to focus on your business.
- Help when you need it via phone or email.
Most of our customers use our free Custodial service. In this scheme, we hold the tenant’s deposit throughout the period of the tenancy, and administer the repayment when they leave.
Simply create your DPS custodial account
Add the tenancy details
Send us your deposit
Our Insured scheme is a little different – you retain the tenant’s deposit for the duration of the tenancy and pay us a small fee to protect it. You also manage the deposit repayment at the end of the tenancy.
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– Northwood Glossop
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Check your tenancy deposits are in line with the deposit cap law
For English tenancies, The Tenant Fees Act that came into force on 1 June 2019 makes it illegal for landlords and letting agents to charge certain fees in connection with a tenancy. A key part of the legislation is that tenancy security deposits are now capped at the equivalent of 5-weeks' rent for assured-shorthold tenancies with an annual rent of up to £50,000, or 6-weeks' rent for tenancies with an annual rent of £50,000 or more.
There are no special provisions or exemptions if the tenant has a pet. The maximum deposit amount allowed must still fall within the compliance thresholds above.
The cap applies to ALL new tenancies and any existing tenancies that are renewed on a fixed-term basis. It doesn't affect any tenancies signed before 1 June 2019 (irrespective of when the tenant actually moved into the property).
Check how much deposit you can take with our easy-to-use deposit calculator
Enter the rental payment amount
Enter the rental period – monthly or weekly
The calculator will work out whether you can take a deposit equal to five or six weeks’ rent, and what the maximum amount is you can hold.
Discover how Northwood Letting Agents securely protected their deposits for freeView Case Study
As the home of deposit protection, we’ve got it covered
If you’re a landlord who’s taken a security deposit for a new tenancy, you must protect it with a government-approved deposit protection scheme like ours within 30 days of receiving it.
We’re authorised to protect deposits for tenancies in England and Wales and offer a choice of two types of protection - Custodial protection, a free service where we hold the deposit for the duration of the tenancy, and Insured protection, where you hold the deposit and pay us a fee to protect it.
As the biggest provider of deposit protection in the UK, we’ve been helping landlords for over 10 years, so you can rely on us for all your deposit protection needs.
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