How do I protect a tenancy deposit?
To start you need to become a member of TDS. You can do this online and there is no joining fee.
There are two ways to protect a deposit, custodial and insured.
Insured: You hold the deposit - you can find our insured scheme here.
Register the deposit and hold the money in a UK bank account. There is a small fee, but protection is confirmed immediately and you don't need to involve us again unless you have a dispute.
Custodial: We hold the deposit
Register the deposit and transfer the money to us. We confirm protection once we receive the money, and it is backdated to when the payment was made. You or the lead tenant need to submit a request for repayment at the end of the tenancy.