MyDeposits have issued new rules which take effect from 6 April 2010. The Guild of Residential Landlords tenancy agreement and prescribed information designed for MyDeposits has been amended to reflect the new rules. The main changes are to do with the late protection of a deposit. In particular, landlords and agents should be aware of the following significant change: C1.1 The following will apply when a Member requests to Protect a Deposit...

This entry is part 2 of 9 in the series Protect / Unprotect a DepositThe Deposit Protection Service. This is by far the most popular service amongst our members who have decided to take a deposit. The Custodial Scheme is free of charge and the landlord / tenant can receive interest (but is linked to Bank of England base rate). The deposit must be transferred to the scheme administrator who will hold the deposit for the duration of the tenancy....