Tenancy Deposit Scheme is a success
Published: 21-Jan-2008
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The Tenancy Deposit Protection Scheme is proving to be very successful.
Figures released recently by the company show that the value of protected tenants' deposits has risen by £100 million since last October, taking the total up to £400 million.
During the same period, the number of landlords registered with the scheme increased by over a third, rising to 293,487.
In addition, the number of tenants and tenancies under the scheme increased by 39 per cent.
Commenting on the figures, Lawrence Greenberg, chief executive of Tenancy Deposit Solutions remarked: "This is a huge growth in the number of tenancies and the amount of the deposit money covered by our scheme. It reflects a much greater understanding of the legal obligations on landlords.
"It also reflects the simplicity of the scheme. It requires no effort by landlords or tenants who use letting agentswho are members of the scheme."
Tenancy Deposit Solutions was appointed by the government in April 2007 to implement the scheme.
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