You have 30 days to register the deposit. Until the deposit has been successfully registered, a countdown timer will appear on the record, displaying the remaining days to register it. The reminder will turn red if you miss the 30-day deadline.
Deposits pending registration will be visible on the home page, allowing you to easily track which deposits require your attention. They will also be listed in the pending deposit bucket on the Deposit Dashboard.
To register a deposit within Yorlet, navigate to the Deposit Dashboard and locate the relevant Deposit record. Use the Register deposit button located in the top right corner of the screen. You will be presented with options for the deposit scheme you are using:
When registering the deposit, you need to specify the type of deposit you are registering:
- Insured deposit: With an insured deposit, you retain the deposit in your own account or a designated client account. The deposit protection scheme provides insurance to cover any potential losses, and you are responsible for repaying the deposit to the tenant at the end of the tenancy.
- Custodial deposit: With a custodial deposit, you transfer the deposit to a deposit protection scheme for safekeeping throughout the tenancy. The deposit scheme holds the deposit, and at the end of the tenancy, the scheme handles the return of the deposit to the tenant.
After selecting the appropriate deposit scheme and type, you will be prompted to add your registration number alongside the certificate. Once you have completed this process, the deposit will be labelled as Active.
Please note that you must have already registered the deposit with a scheme before you can register it in your Yorlet account.
Automatic deposit registration
Yorlet supports automatic deposit registration with the TDS-insured scheme, making it seamless and lightning-fast to register deposits.
Connecting TDS to your account
To start using TDS insured in your Yorlet account, you need to create a TDS account. Then, navigate to your account Settings > Leasing > Deposits > Deposit Integrations and select Connect Account. You will be redirected to the TDS login page, where you can log into your account and connect it to Yorlet.
Once your account is connected, you can add additional controls to your automatic deposit registration process:
- Enable automatic deposit registration: Automatic deposit registration is enabled by default, but you can turn it off for specific applications.
- Require approval before the automatic deposit is sent to the provider: This adds an additional manual step to approve the automatic deposit.
How it works
When registering a deposit, select TDS > Insured. This activates a new option called Register deposit automatically; make sure to toggle this on. With this feature enabled, Yorlet can register the deposit directly in your TDS account and automatically retrieve the registration number and certificate, eliminating double entry and providing a seamless experience.