Landlord deposit protection from the experts

mydeposits offers two landlord deposit protection schemes, Insured or Custodial. Landlords partner with mydeposits to make deposit protection easy.

Protect now

Why choose mydeposits?

Choice

You choose how to protect your tenants’ deposits. Protect with either our insured or custodial protection options.

Free resolution

If you and your tenant disagree on any proposed settlements at the end of the tenancy, you have free access to our award winning adjudication service.

Partnered with NRLA

Backed by leading landlord association NRLA, helping to raise standards in the private rented sector.

I have a new tenant. What do I need to do?

Step 1

Choose

Before taking a deposit, choose how you would like to protect it. You can protect the deposit for free and send it to us or pay a fee and keep hold of it.

Step 2

Protect the deposit

If you have taken a deposit, you must protect it in an insured or custodial government authorised scheme within 30 calendar days.

Step 3

Issue prescribed information

Once you have protected the deposit, we will give you the prescribed information. You must give this to your tenant (and anyone who contributed to it) within 30 days of them first giving you the cash deposit. This will include the certificate and other information.

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Insured

You hold the deposit

You must keep hold of your tenant’s deposit for the length of the tenancy.

Protection fee

You pay a small fee to protect each deposit.

Issue prescribed information

Give the tenant the prescribed information immediately after protecting the deposit.

You return

You can return the deposit as soon as the tenant has left the property.

Tenant can request a formal resolution

Tenant provides all evidence with their request to mydeposits within three months of moving out of the property.

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Custodial

We hold the deposit

We hold your tenant’s deposit for the length of the tenancy.

Free for landlords

There is no fee for using Custodial.

Issue prescribed information

Once the money clears you can give the Prescribed Information to your tenant.

We release

You or your tenant can start the deposit release once the tenant has moved out of the property.

Tenant can raise a dispute

Tenant provides all evidence with their request to mydeposits within three months of moving out the property.

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Payment of interest to tenants

If your tenant’s deposit is held with us in our custodial deposit protection scheme, after 182 days they will earn interest on it. This means that at the end of the tenancy your tenant may be entitled to receive the interest earned in addition to their deposit.

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We offer a free, impartial formal resolution service, for you.

When it comes to the end of a tenancy...

When you reach the end of the tenancy you and your tenant might not agree on any deductions from the deposit.

Don’t worry, we offer a completely free resolution service for all of our customers.

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I found mydeposits very helpful and informative when I contacted them after my tenant had given notice and I couldn’t find my password or account. They also refunded the deposit with no problem. It takes away the stress knowing that they are always there to help if need be.

Sandra

I have been using mydeposits since its inception (as a landlord) and found it very simple to protect and unprotect deposits.

Kitty Omfalos

I always find the site really easy to use. mydeposits provides an excellent insurance for my deposits and gives my tenants a great sense of security. I am extremely happy with the service they offer to myself as a landlord and my tenants.

Landlord member