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Deposit protection scheme launches online joining system

The government-backed tenancy deposit protection scheme mydeposits is allowing letting agents join online in a bid to cut down on paperwork.

mydeposits claims the online process means joining will be faster and easier. 

“Our scheme is open to all agents, regardless of whether they belong to an accredited membership organisation or not. The new changes mean that as soon as the account has been confirmed and setup by our team, letting agents can begin protecting their clients’ deposits which dramatically speeds up the process” says Kate Hayes, mydeposits’ business development manager. 

The new online facility opened last week.

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