The boss of Propertymark Nathan Emerson is to join the board of deposit scheme The Despite Service (TDS) replacing Mark Hayward, who has now retired.
TDS was formed over 20 years ago jointly by Propertymark and RICS as one of the three government-approved tenancy deposit protection schemes used by agents and landlords.
The appointment is a sign that Emerson, who stepped in originally on an acting basis to lead Propertymark after Hayward’s initial successor made a hasty exit after only a few months in charge, is now in charge on a more permanent basis.
Whoever leads Propertymark has a seat on the TDS board along with a representative of RICS.
“I am delighted Nathan has joined the TDS Board to further strengthen the long-standing partnership between us,” says Steve Harriott, CEO of TDS (pictured).
Emerson adds: “I am really pleased to take my place on what is a very active and forward-thinking Board at TDS.
“I want to be able to champion the interests of agents whilst supporting the Board to deliver its strategy and achieving its goals.”
Not-for-profit TDS currently protects some 1.8 million deposits worth approximately £2 billion.
But the tie-up between the three organisations is a commercial one too. TDS offer Propertymark and RICS preferential deposit protection rates for their members.
TDS, whose Hemel Hempstead HQ burned down in 2019, also operates the Tenancy Redress Service, TDS Resolution, TDS Northern Ireland, and SafeDeposits, and has recently been selected as the New Homes Ombudsman.