Tenant Deposit Scheme - DPS
Save on DPS Insured Deposit Protection
British Landlords Association members benefit from a reduced fee when using the DPS Insured Scheme to protect a tenant's deposit. Simply use the exclusive BLA discount code below when registering your deposit with the Deposit Protection Service.
How to Claim Your BLA Member Discount
DPS Insured Scheme for Landlords
Protect your tenant's deposit through the Deposit Protection Service (DPS). The DPS Insured Scheme allows landlords and letting agents to retain the deposit while it remains protected through a government-authorised tenancy deposit protection scheme.
BLA Member DPS Benefit
British Landlords Association members can access the government-authorised Deposit Protection Service, including custodial and insured tenancy deposit protection options. BLA members may also qualify for a member discount when using the DPS Insured Scheme.
Important: If you are a BLA member, make sure you follow the BLA/DPS member instructions when registering or protecting a deposit so that any applicable member benefit is correctly applied.
What is the DPS Insured Scheme?
The DPS Insured Scheme is a tenancy deposit protection option for landlords and letting agents who want to retain possession of the tenant's deposit during the tenancy. Instead of transferring the deposit to DPS, the landlord or agent holds the money and pays the applicable protection fee.
The deposit remains protected under the scheme and, if a dispute arises at the end of the tenancy, the DPS dispute resolution process may be available subject to the scheme rules and requirements.
How the DPS Insured Deposit Scheme Works
Receive the Deposit
The tenant pays the tenancy deposit to the landlord or letting agent in accordance with the tenancy arrangements.
Protect the Deposit
Register the deposit with the DPS Insured Scheme within the applicable statutory deadline and pay the relevant protection fee.
Retain the Deposit
Under the Insured Scheme, the landlord or agent retains the deposit during the tenancy rather than transferring it to DPS.
Tenancy Deposit Protection: The 30-Day Rule
Where statutory tenancy deposit protection requirements apply, landlords should ensure that the deposit is protected within 30 days of receiving it.
Landlords must also provide the tenant with the legally required information within the relevant deadline. In England this includes the required Prescribed Information. Different terminology and requirements may apply in Wales, so landlords should ensure they follow the rules applying to the property and tenancy concerned.
Important Compliance Reminder
Protecting the money with a deposit scheme is not necessarily the end of the landlord's obligations. The landlord is responsible for ensuring that the tenant receives the required deposit information correctly and on time.
DPS Prescribed Information
For landlords in England, Prescribed Information is an important part of tenancy deposit compliance. DPS confirms that landlords using its scheme are responsible for providing the relevant Prescribed Information to their tenants.
Landlords should not assume that DPS has automatically satisfied this legal requirement on their behalf.
- Protect the tenancy deposit within the applicable legal deadline.
- Provide the tenant with the required deposit information.
- Use the correct information or template for the scheme selected.
- Check that the tenancy and deposit details are accurate.
- Keep evidence showing when and how the documents were provided.
DPS Insured vs Custodial Deposit Protection
DPS offers different ways of protecting tenancy deposits. Understanding the difference can help landlords choose the appropriate scheme for their property management arrangements.
DPS Insured Scheme
The landlord or letting agent normally retains the tenant's deposit during the tenancy and pays a fee for the deposit to be protected under the scheme.
This may suit landlords or agents who want to continue holding deposit funds themselves.
DPS Custodial Scheme
Under the Custodial Scheme, the deposit is transferred to DPS, which holds the money for the duration of the tenancy.
DPS describes its Custodial Scheme as a free deposit protection service.
What Happens to the Deposit at the End of the Tenancy?
At the end of the tenancy, the landlord and tenant should try to agree how the tenancy deposit will be repaid and whether any lawful deductions should be made.
Potential deductions may include matters such as unpaid rent, damage beyond fair wear and tear or other losses for which the tenancy agreement and applicable law allow the tenant to be held responsible.
If the landlord and tenant cannot agree, the DPS may provide access to its dispute resolution process in accordance with the applicable scheme terms and conditions.
Useful DPS Deposit Protection Resources
DPS Insured Scheme FAQs for Landlords
What is the DPS Insured Scheme?
It is a tenancy deposit protection scheme under which the landlord or letting agent retains the deposit while paying a fee for it to be protected by DPS.
Does DPS hold the money under the Insured Scheme?
No. Under the Insured Scheme, the landlord or letting agent normally retains the deposit during the tenancy.
How quickly must a landlord protect a tenancy deposit?
Where the statutory tenancy deposit protection rules apply, the deposit generally needs to be protected within 30 days of receipt. Landlords should also comply with the associated information requirements within the applicable deadline.
Does DPS provide the Prescribed Information to the tenant?
DPS states that providing the Prescribed Information is the landlord's responsibility. Landlords should therefore make sure the correct information is provided to the tenant and retain evidence of compliance.
What is the difference between DPS Insured and Custodial?
With the Insured Scheme, the landlord or agent retains the deposit and pays a protection fee. With the Custodial Scheme, DPS holds the deposit during the tenancy.
Do BLA members receive a DPS benefit?
BLA members have access to DPS deposit protection options, including a member benefit associated with the Insured Scheme. Members should follow the current BLA instructions when registering or protecting their deposit.
More Support for BLA Members
British Landlords Association members can access landlord legal guidance, tenancy documents, compliance resources, training and selected member discounts and services. The BLA supports residential and commercial landlords across England, Wales and Scotland.