The Capita TDP (Tenancy Deposit Protection scheme) has been closed to accepting new deposits since the 14th of September this year.
Capita a corporate giant and FTSE 100 company was only awarded the contract by Government to operate the scheme from the 1st April 2013 (no pun intended) in an effort to increase competition and drive down costs for this service. Mydeposits has however stepped in to take over responsibility for Capita TDP protections in England & Wales after confirming their withdrawal from the market.
All of Capita TDP’s existing deposit protections will be automatically transferred to mydeposits from 1st December 2013. Landlords, agents and tenants in England &Wales will also have access to the scheme’s dispute resolution service. Capita TDP has now written to all existing members informing them of the news.
All transferred deposits will continue to be protected throughout the duration of the fixed term tenancy. my|deposits will also reissue a new Deposit Protection Certificate (DPC) and the relevant Information for Tenant’s leaflet for each protection.
Eddie Hooker, CEO of mydeposits, said: “Capita TDP’s existing landlord and agent members can rest assured they’re in safe hands with mydeposits. The experience and knowledge we derive from partnership with the both the National Landlords Association (NLA) and the UK Association of Letting Agents (UKALA) means we’re well placed to manage the handover following Capita’s withdrawal.”
“Landlords, agents and tenants will also have access to our free award-winning dispute resolution service, giving them peace of mind that the deposit will be returned fairly if they’re unable to reach an agreement over its return.”
“We’re on hand to speak to existing Capita members who have concerns regarding the transfer of their deposits. Landlords, agents and tenants can also visit our website www.mydeposits.co.uk where they can find details of the scheme and a range of useful guidance and advice on deposit protection issues”.