Deposit protection by deposit experts

mydeposits offers a choice of two deposit protection options, Insured or Custodial. Landlords partner with mydeposits to make deposit protection easy.

Protect now

Why choose mydeposits?

Choice

You choose how to protect your tenants’ deposits. Protect with either our insured, custodial protection options.

Free resolution

If you can’t agree with your tenant at the end of the tenancy, you have free access to our award winning adjudication service.

Partnered with the NRLA

Backed by leading landlord association the NRLA, helping to raise standards in the private rented sector.

I have a new tenant. What do I need to do?

Step 1

Choose

Before taking a deposit, choose how you would like to protect it. You can protect the deposit for free and send it to us or pay a fee and keep hold of it, or offer our deposit replacement service.

Step 2

Protect the deposit

If you have taken a cash deposit, you must protect it in an insured or custodial government authorised scheme within 28 calendar days.

If your tenant would like to opt for a deposit replacement you can invite them from the portal to create a membership.

Step 3

Issue prescribed information

Once you have protected the cash deposit, we will give you the prescribed information. You must give this to your tenant (and anyone who contributed to it) within 35 days of them first giving you the cash deposit. This will include the certificate and other information.

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Insured

You hold the deposit

You must keep hold of your tenant’s deposit for the duration of the tenancy.

Protection fee

You pay a small fee to protect each deposit.

Issue prescribed information

Give the tenant the prescribed information immediately after protecting the deposit.

You return

You can return the deposit as soon as the tenant has left the property.

Tenant can raise a dispute

Tenant provides all evidence and submits a dispute to mydeposits within three months of vacating the property.

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Custodial

We hold the deposit

We hold your tenant’s deposit for the duration of the tenancy.

Free for landlords

There is no fee for using Custodial.

Issue prescribed information

Once the money clears you can give the prescribed information to your tenant.

We release

You or your tenant can initiate the deposit release once the tenant has left the property.

Tenant can raise a dispute

Tenant provides all evidence and submits a dispute to mydeposits within three months of vacating the property.

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We offer a free, impartial dispute resolution service, for you.

When it comes to the end of a tenancy...

When you reach the end of the tenancy you and your tenant might not agree on any deductions to the deposit.

Don’t worry, we offer a completely free dispute resolution service for all of our customers.

Find out more

I found mydeposits very helpful and informative when I contacted them after my tenant had given notice and I couldn’t find my password or account. They also refunded the deposit with no problem. It takes away the stress knowing that they are always there to help if need be.

Sandra

I have been using mydeposits since its inception (as a landlord) and found it very simple to protect and unprotect deposits.

Kitty Omfalos

I always find the site really easy to use. mydeposits provides an excellent insurance for my deposits and gives my tenants a great sense of security. I am extremely happy with the service they offer to myself as a landlord and my tenants.

Landlord member