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  • Deposit Protection

    Tenancy deposit protection *Tip of the day*

    In England and Wales, if you let out a property on an assured shorthold tenancy that started after 6 April 2007, you must place your tenant's deposit in one of the following government-backed tenancy deposit protection (TDP) schemes:

    Deposit Protection Service
    MyDeposits
    Tenancy Deposit Scheme
    Capita Tenancy Deposit Protection
    Deposit Protection Service Insured

    You must do this within 30 days of receiving the deposit.

    You MUST give the tenant the following information:

    the address of the rented property
    how much deposit they have paid
    how the deposit is protected
    the name and contact details of the TDP scheme and its dispute resolution service
    your (or the letting agency’s) name and contact details
    the name and contact details of any third party that’s paid the deposit
    how to apply to get the deposit back
    what to do if they can’t get hold of the landlord at the end of the tenancy
    what to do if there’s a dispute over the deposit.

    We recommend that you take the deposit registration number and add it to the inventory as well.
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    Sorry to be pedantic Vanessa but the only Protection scheme that requires landlords to place the tenants deposits with them is the original DPS scheme. All the others, including the new DPS Insured, offer landlord the opportunity to pay a premium for the protection and to hold their tenants deposits themselves.

    A landlord must give the tenant a copy of the Protection Certificate and Prescribed Information for Tenants which is provided by each scheme, as you have said within 30 days of RECEIVING the deposit. NOTE not start of tenancy.

    Follow me on Twitter@landlordtweets
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    Follow me on Twitter @landlordtweets
    Thanks for being pedantic Mary, it is important to be accurate.

    In my defence, I took the information from the .gov website!!
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    Now you know why so many landlords make mistakes with Deposit Protection Vanessa. Government often think that we know what they know and many landlords simply don't.

    It makes me cross when good landlords get caught out by "details" but recent cases have shown that the law will have no mercy if a landlord who is "ignorant"

    Follow me on Twitter@landlordtweets
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    Follow me on Twitter @landlordtweets