Free Tenancy Deposit Scheme from TDS Custodial Sees 73% Growth

TDS has released its latest Annual Review, revealing an impressive 73% growth of their free Custodial tenancy deposit scheme during 2018-19 (financial year). 

With much discussion surrounding alternative deposit replacement insurance, the data shows there is continuing growth and interest from agents and landlords in traditional deposit schemes.

“We’re seeing an increasing number of landlords and agents joining our free Custodial scheme,” commented Steve Harriott, CEO at TDS.  “We’ve designed the scheme to make life easier and save our agent and landlord customers time, in terms of excellent customer service, speedy adjudication times and flexible technology, which is proving very popular.”

As the only not-for-profit, government-approved tenancy deposit protection scheme in the UK, the Annual Review reports on the many achievements of TDS (and its sister companies in Scotland and Northern Ireland) throughout the last year, including key statistics of the company’s performance such as the scheme’s growth, its award-winning customer service and its renowned call and email answering times.

Amongst those achievements is the TDS Deposit Cap solution, the only online solution offered by a tenancy deposit protection scheme in response to the Tenant Fees Act.  The innovative and easy-to-use feature allows landlords and agents in England, to reduce the protected deposit down to the deposit cap and initiate repayment directly to the tenant, as and when a tenancy is renewed.

Commenting on the Review, Steve Harriott said: “Our Annual Review brings transparency to the sector, updating our customers, suppliers, partners and the general public on what we’ve been working on throughout the year. We’re keen to share key data in relation to tenancy deposits and we feel that our yearly publications do just that.”