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What is the Tenancy Deposit Protection Scheme ?

April 26, 2017deposit Scheme tenancy

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What is the Tenancy Deposit Protection Scheme ?

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• From 6th April 2007 legislation was introduced that means Landlords and Letting Agencies taking a deposit for an Assured Shorthold Tenancy must protect the deposit using one of the Government approved Tenancy Deposit Protection Schemes. For more detailed information please see the Governments website.

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A. Landlords entering into new tenancy agreements are now required to place any deposit with a government authorised scheme, which will safeguard the money and offer independent adjudication in the event of any dispute. Such disputes, relating to the repayment of all or part of the deposit are a regular cause of conflict between tenants and landlords.