UKALA recommends Tenancy Deposit Solutions Ltd

The UK Association of Lettings Agents Ltd (UKALA) have recommended to their members that they use Tenancy Deposit Solutions Ltd (TDSL) as their form of protecting tenant deposits as now required under the Housing Act 2004. TDSL is the insurance-based scheme sponsored by the National Landlords Association (NLA) and administered by Hamilton Fraser Insurance (HFIS).

"We are obviously delighted that UKALA have concluded that TDSL is the most suitable tenancy deposit protection scheme for their needs," said David Salusbury, Chairman of TDSL. "It is indeed a great encouragement that they have then felt able to recommend us to their members".

Tenancy Deposit Protection comes into force on 6 April 2007. Any deposits taken on and after that date for Assured Shorthold Tenancies in England and Wales must be protected by one of three government-authorised schemes. Tenancy Deposit Solutions Ltd is one of those schemes and is open to both landlords and agents.

David Salusbury continued: "We believe that our "pay as you go" approach makes our scheme attractive to agents as well as landlords. It is transparent and easy to join, with fees set at, what we believe, is an appropriate level".