Best Way To Register Your Tenants Deposit

By law you must register any deposits you take from your tenants.

If you don't register your tenants deposit…

Then your tenant could take you to court and you may have to repay them their deposit plus 3 times the amount of their deposit.

Also if you have not registered your tenants deposit then you have no right to seek possession of your property using a section 21.

This means it will be more difficult to evict your tenants if you need to.

You must register your tenant’s deposit using one of the Government approved Tenancy Deposit Schemes

Choosing A Tenancy Deposit Scheme

There are only 3 schemes that you can use by law:
  1. My Deposits

  2. Tenancy Deposit Scheme (TDS)

  3. Deposit Protection Service (DPS)


My Deposits How It Works

My Deposits has been created for landlords who want to keep hold of their tenant’s deposit.

Is quite simple in terms of how it works:
  • You hold the deposit during the tenancy

  • You register the deposit with My Deposits

  • Deal directly with the tenant

  • Make deductions to the deposit at the end of the tenancy if there are any issues

  • One off joining fee of £60 plus £30 for each deposit you register

Tenancy Deposit Scheme (TDS) How It Works

This scheme is more for agents who can also keep hold of the tenants deposit and they have a minimum charge of £500 + VAT.

In terms of how it works:
  • Print off an complete their paper application form

  • Pay a one off joining fee £500 + VAT

  • You hold the deposit during the tenancy

  • Deal directly with the tenant

  • Make deductions to the deposit at the end of the tenancy if there are any issues

Deposit Protection Service (DPS) How It Works

This is a free service however you cannot keep hold of the deposit and you have to hand it over to them.

To register your tenants deposit you have to:
  • Fill in an online application form

  • Register your deposit by paying them by card or bank transfer

  • At the end of the tenancy you have to get them to agree to pay for any damages

We have found that out of the 3 scheme’s most Landlords prefer to use My Deposits to register their deposit.

This is because you control the deposit
  • It’s simple and easy for landlords

  • You control the deposit (i.e. its in your bank account earning interest)

  • You can use My Deposits tenant resolution service which is FREE if there are any issues

Register Your Deposit With My Deposits Now

  • We have spoken to My Deposits because we think they are by far the best and have got a deduction for our landlords


  • They have agreed to give you a special discount if you register with them of £15


  • Remember by law there are only 3 schemes mentioned above so you have to use one of them


  • The normal price to join is £60


  • You can get a £15 discount by using a special discount code


  • Fill in your name and email below and we will email the code to you along with a simple guide

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Letting Your Tenant Know Who Holds Their Deposit

Within 14 days of receiving your tenant’s deposit, you are required by law to give the tenant details about how the deposit is protected including:
  • Contact details of the Tenancy Deposit Scheme

  • Your contact details or those of the agent

  • How the tenant can apply for the release

It is important that you protect the deposit within 14 days and also provide your tenant with the right information.

Otherwise you may find that you are unable to seek possession of your property and may need to pay them their deposit plus 3 times the amount.

Landlord Angel have produced a Tenancy Deposit Protection Notice which makes sure you follow the correct procedure and gives your tenant the right information they need

Buy Tenancy Deposit Protection Notice Now

  • Create Your Tenancy Deposit Protection Notice Within Minutes From The Comfort Of Your Home


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  • Only £9.97