#ExpertView: Why we launched DepositGuard Custodial

The Residential Landlords Association (RLA) has always understood the challenges faced by landlords and is proactive in doing all it can to support members with the tools they need to do the right thing.

Therefore, the RLA and TDS have joined forces once again to create a free, custodial tenancy deposit option for RLA landlords called DepositGuard Custodial. 

Tenancy deposit protection offers peace of mind for both landlords and tenants, which is one of the reasons why we introduced DepositGuard Insured for RLA members in 2012 – and why we’ve now added to that scheme with the launch of DepositGuard Custodial.

DepositGuard Custodial differs to the Insured scheme in that the deposit is held by the Tenancy Deposit Scheme (TDS) as opposed to the landlord holding the deposit.  Of course, if the landlord prefers to hold the deposit themselves, they still can under the Insured scheme - and being an RLA member means that they can still benefit from the lowest rates for landlords on the market too.

With the DepositGuard Custodial scheme, however, there is no cost to pay at all.  It’s a free option that offers the same award-winning TDS Customer service as using Deposit Guard Insured with some additional key unique features that you won’t find anywhere else such as our exclusive online evidence portal.

It’s all about choice and convenience.

As Steve Harriott, CEO of TDS explained, “DepositGuard Custodial and Deposit Guard Insured mean so that it is now really easy for RLA landlords to keep all of their deposit protection needs under one roof.”

We want to give RLA landlord members access to the very best tenancy deposit protection with the UKs leading TDP scheme.  As the only not-for-profit, government-approved scheme in the UK, TDS offers an excellent standard of support with award-winning customer service and user-friendly technological solutions that make life a great deal easier for landlords.

Discover more about the benefits of using the TDS Custodial tenancy deposit scheme here: rla.org.uk/depositguard

About RLA 

RLA has over 30,000 members nationwide, with a combined portfolio of over a quarter of a million properties. Home to a growing community of landlords, the RLA delivers day-to-day support, expert advice and government campaigning, plus a range of high-quality services relevant to their landlord’s needs. 

About TDS

Tenancy Deposit Scheme (TDS) is a government-approved scheme for the protection of tenancy deposits; TDS offers both Insured and Custodial protection and also provides fair adjudication for disputes that arise over the tenancy deposits that we protect.

We provide invaluable training in tenancy deposit protection and disputes for agents and landlords through the TDS Academy as well as joining with MOL to provide the Technical Award in Residential Tenancy Deposits.

TDS Insured Scheme: where a TDS member can hold the tenancy deposits as stakeholder during the term of the tenancy.

TDS Custodial Scheme: where TDS hold the deposit for the duration of the tenancy.

TDS Academy: TDS provides property professionals with invaluable training in tenancy deposit protection and tenancy deposit disputes.

TDS Northern Ireland: TDS is Northern Ireland's leading and only not for profit tenancy deposit protection scheme.

TDS can only comment on the process for our scheme, other deposit protection schemes may have a different process/require different steps. Content is correct at the time of writing.

These views are those of the author alone and do not necessarily reflect the view of TDS, its officers and employees.

RLA: If you are a landlord and would like to keep up to date with any changes that may affect you or your responsibilities, you can contact the RLA at: info@rla.org.uk and quote reference: dg715 to receive 25% off your first year's membership.