mydeposits

The NLA's recommended tenancy deposit protection scheme

Discounted rates for NLA full members

Introduction

Since April 2007 all landlords who take a deposit from their tenant on an Assured Shorthold Tenancy (AST) in England and Wales* must comply with the tenancy deposit protection legislation. This means you must:

1. Protect the deposit with a government scheme within 30 calendar days of receiving it from the tenant.

2. Provide the tenant with the prescribed Information within the same 30 day deadline.

mydeposits is designed to ensure you comply with your legal obligations. It is a government-authorised scheme, jointly owned by the National Landlords Association and insurance experts, Hamilton Fraser.

*There are different deposit protection laws for landlords in Scotland, Northern Ireland and Jersey.

Benefits

mydeposits provides landlords with a choice of deposit protection options: 


mydeposits Insurance - You hold the deposit

  • You keep the deposit in your account during the tenancy
  • NLA full members receive heavily discounted joining and protection fees

Or

mydeposits Custodial - You transfer the deposit money to the scheme

  • The scheme holds the money during the tenancy
  • Free to join and use

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