Tenancy Deposit Scheme - Contract with Government Goes Forward

LONDON, October 4, 2012 /PRNewswire/ --

The government has announced the new contract authorising the Tenancy Deposit Scheme to provide tenancy deposit protection services.  It will run from April 6 next year until 2018 and incorporate various changes in operating procedures.

The Tenancy Deposit Scheme, the first deposit protection scheme, has been safeguarding tenants' deposits and providing alternative dispute resolution since 2004. In 2007, the Scheme became one of the three government authorised schemes following the introduction of mandatory tenancy deposit protection in the private rented sector.

Said Martin Partington, Chairman of the Tenancy Deposit Scheme, "I am very pleased with this result. Not only is it a tribute to the whole team at TDS, it confirms that we understand the needs of our customers and have provided them with the levels of service they have a right to expect."

Said Steve Harriott, Chief Executive of the Tenancy Deposit Scheme, "This renewal reflects the benefits of the many changes and improvements we have implemented over the past two years. However, it doesn't stop there.  We have new ideas for going forward and providing still better, cost effective service to all our customers which we will be announcing in the autumn."

The new contracts incorporate changes in the regulations governing tenancy deposit protection that will come into force next April. From next month, the Tenancy Deposit Scheme will run an extensive briefing programme explaining the changes in regulation and operating procedures.