Tenancy Deposit Schemes
The question
To ask the Secretary of State for Housing, Communities and Local Government, what steps he is taking to help ensure that deposit schemes represent good value for tenants and landlords; and what steps he is taking to ensure the system is transparent.
Answered by Matthew Pennycook
The recent extension of the Tenancy Deposit Scheme (TDP) contracts secured significant improvements in value for money and overall performance, including enhanced financial transparency and the introduction of more stretching and relevant Key Performance Indicators, delivering service improvements and the creation of a Social Value fund.
Ongoing scrutiny of supplier financial performance, transparency of revenue and cost data, and the ability to challenge performance and enforce contractual remedies where required, ensure services continue to deliver strong outcomes.
The TDP contracts are due to end in March 2028. As part of the process to re-procure these contracts, the government will work to ensure that the service provides good value for tenants and landlords and that the system remains transparent.
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