More than 40,000 tenants have donated over £500,000 of interest earned on their deposits to youth homelessness charity Centrepoint through a scheme operated by mydeposits.
The initiative has generated £509,690 since launching in May 2024 and has now won a Gold Corporate Engagement Award for the partnership between mydeposits and Centrepoint.
Tenants using mydeposits’ Total Property platform are given the option to donate interest generated while their deposit has been protected when it is released at the end of a tenancy.
The mechanism does not require tenants to make an additional payment and was introduced by mydeposits as part of its partnership with Centrepoint.
TENANT DONATIONS
By March this year more than 40,000 tenants had opted to donate, with the amount raised exceeding mydeposits’ original monthly projection by 21%.
Employees and other fundraising and sponsorship activity have generated a further £33,700 for Centrepoint.
The partnership received Gold in the Best CSR Activity or Programme to Support or Develop a Corporate Reputation category at the Corporate Engagement Awards 2026 in London.
Eddie Hooker, Chief Executive Officer of mydeposits, says: “The simplicity of the idea has been key to its success – thousands of individual tenants choosing to make a relatively small donation has collectively created an extraordinary impact.
“Reaching more than £500,000 was already a hugely significant milestone for us, and to now have the partnership recognised in this way is testament to our team, Centrepoint and, most importantly, every tenant who has chosen to donate.”
WIDER PROPERTY INDUSTRY
The two organisations are now considering ways to extend the partnership, including greater involvement from landlords and letting agents and potential work experience opportunities for young people.
Michael Winehouse, Head of Relationship Fundraising at Centrepoint, says the money is helping young people access accommodation, develop life skills and move towards independent living.
He adds: “We are incredibly proud of what we have achieved together so far and excited about the opportunities ahead as we continue to grow this partnership and support even more young people.”
