Mydeposits scheme to cut costs for landlords by 20%
Tenancy deposit scheme Mydeposits is to reduce its fees from April 1.
The new pricing means that landlords who take deposits of over £500 will be able to protect it for £24 – a 20% reduction.
It will cost only £18 to protect deposits under £500 in value.
The cost of protection covers the fixed-term AST agreement period plus any statutory periodic extension.
Eddie Hooker, chief executive of the scheme, which was launched by the National Landlords Association, said: “As the largest landlord provider of deposit protection in England and Wales, we must continue to invest in the scheme, and we hope that these changes will help improve the experience for our members.
“Whether for landlords or agents, we’ve reduced our prices year on year since 2007 and this year is no different. This is testament to why over 90,000 landlords choose us for their deposit protection needs.
“The value of deposits taken by landlords is also on the rise and we wanted to recognise this by improving fees for those who typically take smaller deposits too.”
For a full breakdown of new the pricing scheme, visit: