A tenant deposit scheme has channelled £1m to homelessness charity St Mungo’s, with The Deposit Protection Service confirming the milestone as part of its ongoing partnership.
The Bristol-headquartered deposit protector said the total has been reached since the partnership began at the end of 2024, with funds generated through interest on safeguarded rental deposits.
The initiative links rental deposits with charitable giving. At the end of a tenancy, tenants can choose to donate the interest accrued on their deposit to St Mungo’s, which supports people experiencing homelessness.
The organisation provides emergency accommodation and helps individuals rebuild their lives, primarily across London and the South of England.
Matt Trevett, managing director at The DPS, said: “We are delighted to reach the £1 million donation mark since embarking on this partnership.
“St Mungo’s delivers vital support to people facing some of the toughest circumstances across London and the South of England.
“Many of our employees are also supporting the charity directly, donating time and energy to a number of local St Mungo’s initiatives.”
The partnership also has a local focus, particularly in Bristol where The DPS is based, with employees contributing to community initiatives alongside the financial support generated through the scheme.
St Mungo’s has reported rising demand for its services. In 2025, the charity operated 138 services supporting around 26,000 people, equating to roughly 2,100 individuals each night who were homeless or at risk.
Michael Reynolds, director of fundraising and communications at St Mungo’s, said: “We are incredibly grateful to The DPS for the donations they have facilitated during the first year of our partnership and to all the tenants who have so generously chosen to donate the interest from their safeguarded deposits to St Mungo’s.
“With record numbers of people now facing or at risk of homelessness, our work has never been more urgent.
“The DPS’ fantastic £1 million fundraising milestone and continued support will make a real and lasting difference, helping people to recover from homelessness and rebuild their lives."
For landlords and letting agents, the model highlights how tenant deposit schemes can extend beyond compliance, offering tenants a voluntary route to support housing-related causes while funds are held securely.
