The legislation is very clear around deposits, not only does legislation dictate the level of bond that can be taken, it also prescribes how it should be handled. We are fully compliant and have active membership with both the TDS insured Scheme and the DPS custodial scheme. These are both government approved schemes to ensure deposits are held legally and securely ready for when the end of a tenancy arrives.
We use the different schemes for different purposes as each has different advantages and disadvantages in terms of how they are used. The important thing here is to ensure bonds are dealt with in a legally compliant way and we partner with the DPS and TDS to ensure this is the case. For more information, please speak with one of the team.