1 month ago | 12 comments
Landlords will be able to manage insured and custodial tenancy deposits through one platform under a major overhaul of mydeposits administration.
The firm is moving its insured-backed scheme onto Total Property; the system which is already being used for its custodial service.
The move follows what it described as its largest investment in insured deposit protection since launching in 2007.
The company said the change would make it the only tenancy deposit protection provider offering insured-backed and custodial protection through a single customer platform.
The chief executive of mydeposits, Eddie Hooker, said: “Bringing our insured-backed and custodial deposit protection schemes together on Total Property has been the long-term vision for the platform, so I’m delighted to see that vision become a reality.
“This is our biggest investment in insured deposit protection, and we have rethought not just the way members pay for insured deposit protection, but the entire user experience, creating a platform that is simpler, more flexible and designed around how landlords, agents and tenants interact with deposit protection today.”
He added: “It provides a platform that can continue to evolve alongside the changing needs of the private rented sector for years to come.”
A new membership model will give members one annual renewal date and allow them to buy the number of deposit allocations needed for their active protections.
The allocations can be reused when a protection ends, meaning landlords and agents will not need to purchase an allocation for every deposit protected during the year.
They will instead need enough allocations to cover the deposits protected at any one time.
The maximum price will be reduced to £22 for each deposit allocation per year, including VAT.
Mydeposits said the average cost per protected deposit would be lower for many landlords, with further savings available as the number of active protections increases.
NRLA members will continue to receive a one-third discount on deposit protection.
The reduction will be applied automatically at renewal rather than requiring members to enter a promotional code.
Total Property will also introduce an end-of-tenancy negotiation process.
Members will be able to upload evidence and propose how a deposit should be divided, while tenants can accept the proposal or make a counter offer through the platform.
Cases where an agreement cannot be reached will move to the company’s free dispute resolution service, which mydeposits describes as award-winning.
Existing insured-backed members will be automatically transferred to Total Property.
Current deposit protections will remain valid, and members will not need to register them again or take action to maintain protection.
Landlords and agents who do not want to use insured-backed protection will still be able to use the custodial service without charge through Total Property.
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Member Since February 2023 - Comments: 3
9:46 AM, 3rd August 2026, About 3 weeks ago
The Total Property website for deposit protection is a car crash…. please can this be sorted.
Member Since January 2023 - Comments: 1
10:00 AM, 3rd August 2026, About 3 weeks ago
I completely agree with the first comment. I spent an hour of my Sunday trying to add a new deposit. Ridiculous website. No help no simple instructions. We are expected to just guess what to do. Gave up. Moved to TDS which was simple and took just five minutes despite me never seeing it before. Will never use Mydeposits/Total Property again.
Member Since November 2025 - Comments: 17
10:15 AM, 3rd August 2026, About 3 weeks ago
I am a landlord and also operate a small agency. As a landlord, I use the MyDeposits insurance scheme where I hold the deposit and PAY for insurance. As an agent I use their custodial scheme.
I have just attempted to log on on the new website. It only recognises me as an agent and a record showing nearly £40,000 worth of deposits has disappeared.
Further, the scheme only now only recognises me as an agent and I seem to have been erased as a landlord.
Can you imagine the kind of financial repurcussions I would face if I were to make an equivalent “error”? It’s one law for them and another for landlords! What a disgraceful shambles.
Member Since June 2015 - Comments: 351
12:38 PM, 3rd August 2026, About 3 weeks ago
So much for one platform. It has me as landlord 1, 2 and 3. 1 and 3 show custodial deposits arranged by Open Rent. One of them should still be current but the other one is ancient history, as the tenant moved out about 3 years ago and mydeposits should have fully refunded their deposit.
Landlord 2 shows the insured deposits. Way back to when deposit protection was invented.
I fully refunded and unprotected 7 deposits over the weekend, which was relatively straightforward once I’d worked out where to find it on the not very user friendly website. It looks like it’s going to be incredibly complicated and long-winded if we need to retain any part of the deposit.
In the entire time deposit protection has existed I’ve never had a dispute. I only occasionally retain any deposit money. Usually as a few days rent when I haven’t insisted on the tenant leaving at the end of a rent period or when there is significant and very obvious cleaning needed. Certainly no one has ever felt I have been heavy handed enough for them to complain. Now we’re going to have to jump through ridiculous hoops, which will take time and will make us more likely to bill for even tiny stuff. Tenants are going to lose out with this new scheme.
Member Since June 2013 - Comments: 3289 - Articles: 81
1:30 PM, 3rd August 2026, About 3 weeks ago
I’ve only ever had to protect two deposits & that is for me selling to new Landlord where we’ve had to get Nottingham Council to pay deposit & rent up front to keep new Landlord happy.
And boy can I not use the website to deregister the deposit.
One deposit last week I had to return to tenant before the 30 days was up. And they pay me back the next day. Yes legally where do I stand?
Current one, sold house last week, can’t deregister it. Why is MyDeposits who we go to log in with then change the website to TotalProperty? AAahhh….
Member Since March 2014 - Comments: 199 - Articles: 1
8:41 PM, 3rd August 2026, About 3 weeks ago
I agree with the first 2 commentators – a total shambols! I always used my deposits insured and when I had some more deposits to protect last week was shunted off to the Total Property website which is NOT intuitive. For anyone in the same boat the help link is actually on the my deposits website before you get transferred! but its still not good. Also 30-45 min wait on the “chat” for help. From others feed back I am now dreading what will happen if I need to un-protect a deposit. Also be warned if you have multiple tenants named on the tenancy you now need emails and phone numbers for each of them. A bit of a problem for my retired couple where he leaves all that stuff to her!
Member Since June 2013 - Comments: 11
9:25 AM, 20th August 2026, About 4 days ago
I agree with that’s been said above.
What they’ve done here is shambolic. I’m an agent and, like others, now have a significant mismatch in terms of the value of deposits held.
Releasing a deposit has also gone from being a perfectly straightforward process to being a right faff.
I would urge others to stay away from MyDeposits / Total Property currently – at least until they have sorted out the mess they have created.