Letting agents urged to use Tenancy Deposit Solutions

The UK Association of Lettings Agents has advised its members to use Tenancy Deposit Solutions as their form of protecting tenant deposits.

TDSL is the insurance-based scheme sponsored by the National Landlords Association and administered by Hamilton Fraser Insurance.

David Salusbury, chairman of TDSL, says: We are obviously delighted that UKALA has concluded that TDSL is the most suitable tenancy deposit protection scheme for its needs.

It is indeed a great encouragement that it has then felt able to recommend us to its members.

Tenancy Deposit Protection comes into force on April 6 2007.

Any deposits taken on and after that date for assured shorthold tenancies in England and Wales must be protected by one of three government-authorised schemes.

Tenancy Deposit Solutions is one of those schemes and is open to both landlords and agents.