The NRLA has partnered with DepositGuard (TDS), mydeposits and Zero Deposit to provide you with a range of deposit protection options for your tenancies. For letting agents, housing associations, and corporate landlords we offer an annual subscription (from 1 April to 31 March) based on an agreed number of deposits. An example to illustrate: A landlords wants to deduct £200 from a £1,000 deposit registered with an insured scheme. We still hear of agents “running off with the deposits” and when the company goes belly up, both landlord and tenant are left wondering the heck to do. The original custodial tenancy deposit scheme (TDS) is administered by the Deposit Protection Service. Deposit up to £500 = £17.50. Renewing the scheme costs £14.70 each year. The insurance based scheme aimed at private landlords rather than letting agents is called mydeposits.com and is run by landlord insurance brokers Hamilton Fraser. The amount of this fee varies depending on the scheme. Members of the Residential Landlords Association and the LLAS receive lower rates by choosing our DepositGuard membership option. Use the discount code below. Keep the deposit in a UK bank account and it is immediately protected by our insurance. A tenant's guide to the Insured scheme. Monthly Income Plan(Mutual Fund) Monthly Income Plan (Insurance) A post office investment scheme guarantees fixed monthly income at a 8.5% annual rate. TDS’ Insured Scheme Explained TDS insured is completely free to join. Members of the RLA can then protect deposits for the following costs: Free and instant online registration After one year of membership and subject to low disputes usage, generous discounts on our headline rates are available, as well as a loyalty bonus for continuing to be a TDS member. Should landlords fix their BTL mortgages? It allows you to protect deposits online and hold onto the deposit money; providing you with simple, cost-effective deposit protection. Welcome to TDS Northern Ireland We are an award-winning Belfast based service, protecting deposits on private tenancies and resolving disputes over their return. Landlords responsible for tenant water bills, Tenants Deposits - Evolution or revolution, Accelerated Possession Section 21 Notice ( timetable). Free access to ADR (Alternative dispute resolution). Within these three approved schemes, there are two types of scheme: custodial and insurance… Your email address will not be published. Do you agree with Tenancy Deposit Scheme (TDS)’s 4-star rating? Visit www.rla.org.uk/depositguard for more details. If there is a dispute, then the landlord needs to involve the scheme. The company or person that makes the payment after deducting TDS is called a deductor and the company or person receiving … Tax Deducted at Source (TDS) rates in Nepal for 2077/2078 (UPDATED) Read More » The tenant disputes £100 of the deductions. I personally use the Custodial Deposit Protection Scheme as I do not see any point whatsoever using insurance backed schemes that actually cost money. Members can protect deposits of £499 and under for just £13.20 and £500 and over for £17.95 - making it the cheapest insurance based scheme in the market. Pay online with a credit/debit card Find our rates for landlords here. The latter means that you or the agent hold the deposit yourself and you insure it by way of payment to the scheme. Register the deposit. Landlords going to the small claims court, When a bailiff calls at a tenanted property. Visit www.rla.org.uk/depositguard for more details. Required fields are marked *. If you wanted a free scheme you used the DPS. Submitting a deposit to our Insured scheme - landlords. ... Tel: 0300 037 1001, TDS Custodial is a company registered in England and Wales with number … ... DepositGuard offers competitive rates on Insured deposit protection and free Custodial deposit protection, in partnership with the Tenancy Deposit Scheme… Protecting your tenant’s deposit with a government-authorised scheme has been a legal requirement since 2007, and now mydeposits delighted to be able to offer two deposit protection options to help you meet your legal obligations. Soaring service charges lead to a rise in disputes with tenants. Plan prices and availability vary from region to region, but TDS packages can create even better deals for you through bundling. However it seems that her firms is now paying the price of some £2,388 for this! Set up fees – There are none but you have to join the RLA which costs. The Tenancy Deposit Scheme (TDS) The Tenancy Deposit Scheme is the longest serving deposit protection scheme and was originally set up in 2003 and is operated by the Dispute Service Ltd. You are advised to discuss your specific requirements with an indenpendent financial adviser prior to entering into any binding contracts. The scheme is actually administered by the Tenancy Deposit Scheme (TDS). Guides. Our Insured scheme terms and conditions. To register your interest in My Deposits Custodial Scheme. © 2021 The Dispute Service Limited, All Rights Reserved. The TDS Insured Annual Data snapshot for the 2021-22 membership year will take place on 24 January 2021. Other tax deductions under Sections 80C and 80D for investments, insurance premium, and repayment of home loans TDS is calculated on your total income minus tax exemptions that you claim. TDS Insured. TDS Insured TDS Custodial DepositGuard Insured for NRLA members DepositGuard Custodial for NRLA members; Deposit £499.99 and under: £17.50 (inc VAT) FREE: £13.20 (inc VAT) FREE: Deposit £500 and over: £24.00 (inc VAT) FREE: £17.95 (inc VAT) FREE: Join: Join TDS Insured: Join TDS Custodial - Free: Join Deposit Guard Insured: Join Deposit Guard Custodial HMRC target landlords Capital Gains Tax (CGT), Landlords who can't get a landlord mortgage. Tenancy Deposit Scheme (TDP) Each of these offers two options. TDS Custodial (where we hold the deposit for the duration of the tenancy) is free to use. Energy Performance Certificates (EPC) update. It is joined in April 2016 by a new scheme provided by My Deposits. Join TDS. Become a member online. 2. They must pay the disputed amount to the scheme provider – not the whole deposit. A debt oriented mutual fund in which the investment is made in equity-debt instruments in a 20:80 ratio TDS standalone internet ranges between $39.95 and $109.95. End of tenancy process. Deposit over £500 = £24. What are Letting agents charged to use this scheme? DepositGuard Insured enables you to quickly protect your tenants' deposits with the Tenancy Deposit Scheme. Can Landlords Stop Tenants Smoking in a Rental Property? TDS Insured for landlords works on a pay as you go basis, starting from £13.20 per deposit for the life of the tenancy agreement. It costs £57.50 to join the scheme and then £29.36 for each property protected. The insurance cost covers a landlord and tenant for the expenses of administrating the scheme and also for the insurer recovering any disputed amount of the deposit. Find our headline rates for letting agents and housing associations here. Scotland and Northern Ireland operate separate schemes, but they work in the same way as detailed below. Register details of the deposit online. A guide to bulk deposit submissions - Insured scheme. Any company or person doing a financial transaction that is subject to TDS payment is required to deduct tax at source i.e while making the transaction. TDS Custodial Scheme : where TDS hold the deposit for the duration of the tenancy. A landlord seeking possession against a tenant who does not … It is a not for profit scheme. You must also supply certain information to the tenant(s) within 28 days of receiving the deposit.