[holding answer 14 March 2007]: All letting agencies should be able to comply with the requirements of the tenancy deposit protection. From 6 April 2007 there will be three schemes for operation. A letting agent will be able to decide with their landlord clients to either insure the deposit with one of the two insurance based schemes or lodge the deposit with the custodial scheme.
[holding answer 14 March 2007]: The Department has worked with stakeholders to ensure that the tenancy deposit protection scheme does not create an administrative or financial burden. There is no charge for the use of the custodial scheme and information that needs to be provided to a tenant has been kept to a minimum and is prescribed by the Department.