The Deposit Protection Service recently announced the introduction of a new insured scheme from 1 April 2013 which will have no joining or membership fees.

We are pleased to announce that subscribers to the Guild of Residential Landlords or accredited landlords via the Private Rented Sector Accreditation Scheme will receive a discounted rate for the DPS insured scheme when protecting deposits.

The rate per deposit for Guild or PRSAS members will be £14.00 12.00 for deposits of less than or equal to £500 or £21.50 20.20 for deposits of greater than £500, both including VAT.

According to the DPS comparison table at the time of writing this article, from April, Guild and accredited members will be able to take advantage of some of the cheapest rates for insured scheme deposit protection available.

The DPS plan to release updated scheme terms and conditions during March and as always Guild subscribers will have access to appropriate tenancy agreements including prescribed information which we will update as necessary nearer the time after release of the rules.

We have produced an article explaining that the free to use custodial scheme continues as normal and summarising the difference between custodial and insured schemes available here.

If anybody has any enquiries regarding this exciting news, please contact us.