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  • Deposit Protection

    Tenancy Deposit Protection - did you know ..?

    Although tenancy deposit protection came into effect in 2007, there is still a significant number of landlords who lack awareness of the process and also some of the important details of compliance when protecting a tenant's deposit.

    We see the same questions asked time and time again on Property Tribes, so I rounded up all these FAQs and put them to Mike Morgan of our TDP partner, TDS.

    They include:

    * Dealing with the deposit if the tenant passes away

    *  The importance of Prescribed Information

    *  Gardening disputes

    In the video, Mike mentioned the resources available on the TDS website as follows:

    Deposit Deduction Template

    End of Tenancy Guide

    TDS also run training workshops and events for landlords and lettings agents:

    Find out more about TDS training here:

    TDS Academy 

    Remember, if the deposit is not protected correctly, the landlord will not be able to serve a Section 21 notice and may also become liability for a statute penalty of up to three times the value of the deposit.

    Here is a reprise of our "Tenancy Deposit Protection Week" content from last year which tracks the lifecycle of a deposit:

    Tenancy Deposit Protection Week 2017 - powered by TDS

    Monday -      TDP - history and highlights 

    Tuesday -     Choosing TDP - Custodial vs. insured scheme?

    Wednesday - How to protect a deposit professionally

    Thursday -     Importance of the inventory in TDP

    Friday -          Ending the tenancy and return of the deposit 

    If you have any questions about tenancy deposit protection, you are invited to post them here and Mike Morgan will be happen to answer them.

    *Transparency notice:  TDS is the TDP partner of Property Tribes.  By using TDS, you are assisting in maintaining this site as a free to use community resource.

    SEE ALSO  -           End of tenancy - how clean is clean?

    UP NEXT -               Is TDS Custodial still an option ?
    DON'T MISS -          This one picture will convince of the value of an inventory and inspections.

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