Free membership renewals for tenancy deposit protection

mydeposits.co.uk is offering free annual membership renewal to landlords who are already protecting their tenants' deposits in the only government-authorised insurance-based tenancy deposit protection service specifically designed for landlords.

Waiving the annual membership renewal fees means existing landlord members benefit from continuing their membership of the scheme for free and continuing to retain control of tenancy deposits.

mydeposits.co.uk is the only pay-as-you-go tenancy deposit protection scheme that allows landlords to hold a deposit for the duration of the tenancy.

David Salusbury, Chairman, mydeposits.co.uk, commenting on this free offer, said: "Existing landlord members of mydeposits.co.uk already benefit from being able to retain control of tenancy deposits. Now they have been boosted further with the waiving of their annual membership renewal fee.

"It has always been our intention that, as more and more landlords join our scheme, we can pass on to our members savings made by economies of scale. With the cost of being a landlord increasing, we hope that this saving is only the start of a programme of further price reductions in the future.

"Landlords should be reminded that if they fail to comply with tenancy deposit protection legislation they face considerable risks. Limits will be placed on their ability to seek possession and they can be forced to pay compensation to the tenants to the tune of three times the deposit."