In the three months from mid-October to mid-January, the value of protected deposits rose from nearly £300 million to almost £400 million.
In the same period, the number of tenants and tenancies covered both rose by 39 per cent, to encompass 596,343 tenants in 391,790 tenancies. The number of landlords joined to the scheme rose by more than a third, from 217,134 to 293,487.
The TDS is to launch an improved website for users, together with step-by-step online advice at February’s Association of Residential Letting Agents (ARLA) annual conference.
Lawrence Greenberg, TDS chief executive, said: “This is a huge growth in the number of tenancies and the amount of the deposit money covered by our scheme. It reflects a much greater understanding of the legal obligations on landlords.
"This is in addition to the number of tenancies coming on stream or being renewed. It also reflects the simplicity of the scheme. It requires no effort by landlords or tenants who use lettings agents who are members of the scheme.”
Meanwhile Tenancy Deposit Solutions Ltd (TDSL) has launched a guide for landlords and agents on its website. It instructs agents and landlords on how to protect and return the deposit and resolve disputes.
David Salusbury, TDSL chairman, commented: “TDSL now leads the way in making mandatory tenancy deposit protection as transparent as possible for landlords and the new website goes a long way to making the process clear and user-friendly.
"A massively helpful section is the new ‘Jargon Buster’, which explains in plain English some of the technical terms that can confuse landlords, agents and tenants.”
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