What is tenancy deposit protection?
Tenancy deposit protection was introduced by the Government in April 2007 to help ensure tenants in England and Wales are treated fairly at the end of a tenancy. Under the Housing Act 2004, if a deposit is taken, landlords and letting agents have certain legal obligations they need to meet. They must protect your deposit in accordance with the law and provide you with details of where and how it's protected.
Types of protection schemes
We provide two types of deposit protection – Custodial, a free service where we hold the deposit for the duration of the tenancy, and Insured, where the landlord or letting agent holds the deposit and pays us a fee to protect it.
Most customers use our free Custodial service. In this scheme, your landlord or letting agent sends us your deposit to hold and protect for the duration of your tenancy. At the end of your tenancy, we'll release your deposit once you've both agreed on any repayment amounts.
In our Insured scheme, your landlord or letting agent holds your deposit for the duration of the tenancy and pays us a small fee to protect it. At the end of your tenancy, they'll be responsible for returning your deposit to you, once you've both agreed on any repayment amounts.
Your deposit is in good hands with us
When you pay a deposit to your landlord or letting agent, it's important to know it's protected. We're authorised by the Government to protect tenancy deposits in England and Wales, giving you peace of mind that your money is safe. As the largest Custodial deposit protection provider in the UK, we've looked after millions of deposits and have been delivering simple, hassle-free service for close to 20 years.
Where is your deposit?
To find out if your deposit is protected with us, and what type of protection your landlord or letting agent has chosen, use our deposit checker.