What is the Tenancy Deposit Scheme?
From 6th April 2007, all deposits taken by Landlords must be safeguarded by an approved Government scheme. Each deposit must be protected and the tenant informed of such protection within 14 days of receipt. Failure to do so can affect a Landlord’s ability to regain possession of the property under fast track possession (Section 21 of the Housing Act 1988) and a fine (up to three times the deposit amount) may be imposed on the Landlord (payable to the tenant).This scheme is in place to protect the tenant’s deposit against unlawful deductions. We are a member of The Deposit Protection Service and if you instruct us to safeguard the deposit on your behalf, we will pay it into The Deposit Protection Service under its terms for safekeeping.
