The Department has received around 10 representations from letting agents about the Tenancy Deposit Scheme (TDS)’s recent fee increases. TDS is one of the two Government authorised “insurance-based” tenancy deposit protection schemes which landlords pay a fee to join. The custodial tenancy deposit protection scheme, operated by the Deposit Protection Service, remains free to use.
No recent assessment of the profits of the companies operating tenancy deposit protection schemes has been made. The three tenancy deposit protection schemes are operated by private companies under contract with Communities and Local Government and are designed to be self-financing.