Free membership to landlord deposit scheme
Landlords are being offered free membership to a government-backed tenancy deposit protection scheme.
MyDeposits.co.uk uses an insurance-backed programme to ensure safe-keeping of tenants' deposits and is now inviting buy-to-let investors to sign up to its service free of charge.
Chairman David Salusbury said that the service offers an attractive alternative to storing funds with third parties, which is currently the favoured option among many residential landlords.
Alluding to the potential benefits of the scheme, he commented: "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."
Landlords who have property to rent in London can oversee investment of their funds at MyDeposits.co.uk, ensuring that the real value of their holdings does not deteriorate over time.
Under the Housing Act 2004, every landlord that takes a deposit for an assured short-hold tenancy in the UK is legally obliged to sign up to a Tenancy Deposit Scheme.
Published 20th June, 2008
© 2008 Estates IT Limited
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Landlords are being offered free membership to a government-backed tenancy deposit protection scheme.