Landlords can avoid TDS custodial scheme by using approved insurance scheme

Landlords should be aware that since April 06 2007 if they take a deposit from a tenant they need to either place it in a custodial scheme or they can use a landlord insurance scheme run by mydeposits

This allows a landlord to retain their tenancy deposit but also comply with the Tenancy Deposit Scheme legislation. For more information on the tenancy deposit scheme check out the Property Hawk website.