Essentially, all the schemes work the same way. You will need to as a minimum
- Register yourself with your chosen scheme
- Log in to the system and add the property.
- Add the tenant and deposit details to the property.
- For Mydeposits, you will need to pay the protection fee
For Deposit Protection Service you will be given the option to either pay the deposit on-line or send a cheque. If you choose on-line, then the transaction will be completed and the deposit protected. If you choose to pay by cheque, a button appears which when clicked prints a form that contains all the details necessary for the scheme. This form should be enclosed with your cheque.
You will receive confirmation that the deposit is protected. IMPORTANT: This confirmation is NOT the prescribed information contrary to popular belief. See the next in series
See the next in series for detailed guidance for the DPS (because that is the most popular amongst our members.)