Tenancy Deposit Protection Schemes

Description

The primary objective of this procurement is to ensure the continued service provision of a Tenancy Deposit Protection (TDP) scheme or schemes from April 2028 that meet legislative requirements as set out above. The Government's policy objectives for the TDP system are that: • Deposits are fully protected so tenants are assured that their money is safe, and landlords are confident that they are abiding by the law. • Decisions on return of deposits are as quick as possible without compromising on the quality of adjudication and users' trust in the process. • Tenants who fund the TDP system benefit from its profits. • Implementing a streamlined TDP system that is easy to use for all, meaning the sector is encouraged to use the system, and users are aware of and confident in their rights and obligations. • The system maximises VfM for taxpayers and minimises the risk of Government underwriting financial losses of suppliers. The Authority also aims to maintain and improve the service available to landlords and agents, and to improve the overall tenant experience with deposits in the Private Rented Sector (PRS) with an emphasis on continuous improvement. Following previous engagement with the market and sector stakeholders, the Government is minded to simplify the existing TDP system and secure greater value for money. Subject to the necessary legislative and commercial processes, this would involve the following reforms: • Custodial model only • Delivery by a single supplier • Profit-sharing with MHCLG Further details on the proposed requirements and scope will be included in the Pre-Market Engagement (PME) document available via email request (commercialtenders@communities.gov.uk). The Department will also be providing access to a data room document which includes supplementary information alongside the PME document. Please request access via the email address above and you will be provided with a link and/or email with instructions on how to access.

Links & Documents

Similar contracts