Tenant Deposit Protection

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  • Tenant Deposit Protection

In April 2007, the Government put in place a piece of legislation affecting all landlords and how they treat tenant deposits. It requires all landlords throughout the United Kingdom to place their tenants’ deposits into the tenancy deposit protection scheme.

 

The tenancy deposit protection scheme.

This was put into place to ensure transparency and honesty when dealing with tenants’ deposits. Each scheme provides a free adjudication service to help resolve any disputes that may occur between the landlord and tenant.

 

The deposit scheme aims to ensure that they get their deposit back at the end of the tenancy. This is providing that the tenants comply with the terms of their tenancy and return the property in a good, clean and undamaged condition.

 

We are a member of the Deposit Protection Scheme. This ensures that every landlord that we work with has a tenancy deposit scheme in place.

 

If we manage the property, we will provide you with full details of the scheme that we use.  We currently use the DPS.  The document includes the list of terms and conditions of the scheme itself together with various instructions from you to carry out.  This should always be served on you prior to you moving in.  Once you have moved in the deposit is registered with the Company within 30 days. They then write to you direct with all the details of the scheme itself.  You may find that individual landlords sometimes use their own schemes as there are various agencies. They must serve on you the same documentation and the scheme will always write to you direct.  It is important that once you have moved in you have received this within 30 days.

 

If you are a landlord currently looking for a letting agent, why not contact us today for a free valuation? Just click here. 

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