Two thousand deposits were submitted to The DPS last Monday, with 288 deposits submitted in one hour alone. Over the day, this equated to £1.5million worth of deposits being protected – a new record.
Since the launch of the DPS in 2007, 640,000 deposits have been protected, worth more than £480million.
DPS director Kevin Firth said: "Our record-breaking day just goes to show that tenancy deposit legislation is working. Last Monday, the DPS had its best ever day helping to protect tenants’ deposits.
"With people preferring to move property in the summer months and more people choosing to rent rather than buy, because of the current economic climate; it makes sense for landlords and tenants to protect themselves.
"As our figures show, more and more landlords and agents are signing up to our scheme every day – though we know there’s a ‘rogue’ element that still have to comply with the legislation."
The DPS is the only scheme to physically hold onto a deposit. It is provided free of charge, and funded entirely by the interest earned from deposits held in the scheme.
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