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  • Deposit Protection

    TDS Annual Review shows growth in deposits

    • The Dispute Service has grown 6.8% in the last financial year 
    • Growth was highest in Northern Ireland (13.85%), followed by Scotland (8%) and England and Wales (6.52%)  
    • Growth attributed to investment in technology, systems and customer service
    • The Dispute Service operates Tenancy Deposit Scheme in England and Wales, TDS Northern Ireland, and is a key partner with SafeDeposits Scotland.

    In the last financial year (April 2017-March 2018), the UK’s leading tenancy deposit protection provider, The Dispute Service increased the number of deposits it protects by 6.8% across the UK.

    Operating tenancy deposit protection schemes in England, Wales, Scotland and Northern Ireland, The Dispute Service announced the growth in its Annual Review, published today (6th December 2018).

    The Dispute Service subsidiary, TDS Northern Ireland, experienced the greatest growth, with the scheme expanding 13.85%. Sister company, SafeDeposits Scotland followed suit, generating an 8% rise in the number of tenancy deposits protected. In England and Wales, The Dispute Service trades as Tenancy Deposit Scheme (TDS), which grew 6.52% over the year.

    In total, the number of tenancy deposits protected by the not-for-profit organisation grew from 1,386,572 in March 2017 to 1,481,485 in March 2018 across the UK.

    Steve Harriott, Group CEO of The Dispute Service said: “The growth we have experienced is due to both the increasing size of the private rented sector and the quality of the service we provide to our customers..

    “Over the last year, we’ve invested significantly in our people, products and customer service. We’re consistently meeting government targets for call and email answering times across the UK, and were awarded the Customer Service Excellence accreditation earlier this year.

    “There’s a lot of interest in the private rented sector and particularly in tenancy deposit protection. The sector continues to grow but there is very little in the way of published data on tenancy deposit protection.

    “Our Annual Review tries to bring transparency to the sector, updating our customers, suppliers, partners and the general public on what we’ve been working on throughout the year. We’re keen to share key data such as the number of deposits protected and the number of tenancies which end in dispute and we feel that our yearly publications do just that.”

    To read the Annual Review report in full, please click >>> here.

    Here is a reprise of our "Lifecycle of a Deposit" Week from earlier this year:

    "Lifecycle of a Deposit Week" 2018 - powered by TDS

    Monday - Launch of "Lifecycle of a Deposit" Week!

    Tuesday -  Pre-tenancy deposit responsibility - tips

    Wednesday - 3 steps to protect a deposit correctly

    Thursday - How changes to a tenancy affect the deposit

    Friday -  Managing the deposit at the end of the tenancy

    Saturday - How to think like an Adjudicator to solve disputes

    Thank you to TDS for their continued support of Property Tribes and landlord education.

    SEE ALSO  -        TDS deposit training for landlords - London

    UP NEXT -            Deposits to be capped at 5 weeks rent?

    DON'T MISS -       Tenancy deposit disputes below 1% - 8th year