Apply to operate a Tenancy Deposit Scheme
The Department for Communities (DfC) invites expressions of interest from organisations with the appropriate skills to operate a Tenancy Deposit Scheme.
Tenancy Deposit Schemes are approved schemes in which landlords protect a deposit that is taken from a tenant at the commencement of a private tenancy. DfC will consider proposals for the operation of the tenancy deposit scheme to cover from 1 August 2023.
The Tenancy Deposit Schemes must be able to operate without any financial subsidy from the taxpayer. Proposals should include a business case that demonstrates that the intended scheme is financially viable and sustainable and that adequate safeguards are in place to protect the pool of deposits.
How to apply
Aside from the requirement to complete the application form, there is no standard template for the submission of the proposal itself.
However, proposals must provide sufficient information to satisfy DfC that all the requirements set out in the regulations are complied with, clearly setting out the arrangements for the operation of the scheme and how the business model will enable a viable and sustainable service.
The deadline for submissions is 11:59pm on 12 June 2023.
Read full guidance notes and access the application form.
First published 16 May 2023