The DPS continue to grow

We’re now in our fourth year of operation and continuing to grow – in fact, last month was the busiest in our history: we protected over 48,000 deposits. The beginning of April has seen us smash another record by protecting 3,800 deposits in one day! In total we now protect in excess of £410m which is well over half a million deposits.   When we launched we were aimed at private landlords with small property portfolios, however, The DPS has proven popular across the whole industry, including large portfolio landlords and Letting Agents.

I took a look at the latest stats this morning which show that over 17,300 Letting Agents use our scheme, including the majority of Martin & Co franchises, Belvoir and Grosvenor.

We’re continually told by agents that tenants feel safer when their deposit is protected by a trusted third party rather than the agent or landlord – and they would prefer to choose an agent that has our sticker in the window.

In the last year we have taken on 4,295 new agents; the largest influx in the first 4 months of 2010, presumably the combined effect of low interest rates and the TDS fee increases.

In short our scheme is a viable and popular option for agents and we’re happy to talk to anyone who wants more information, including details of our new bulk upload facility, which makes life even easier for busy businesses.