So 7th April this all starts does it....

Well who intends to actually do any of this?  Nothing I have read says very much, you give the deposit to Computershare Services Investor Plc  or take out insurance - another insurance policy - nothing about schedules of condition to be filed with the deposit!
Now call me stupid but I would think this is a critical bit of information for resolving a dispute when I say the carpet was perfect and the tenant says not, a sign schedule of condition from when you moved in.....

Now if I have my tenants deposit and I don't give them the paperwork to say I have put it in any of these schemes they in reality do what for there under £1000 deposit, not pay the last months rent like all tenants do!! 

BTW If my tenants pay there rent on time though the term I tend to be lenient when giving back deposits as you always need to tidy up a property imho