Tenancy Deposit Protection Scheme
Tenancy deposit law was introduced on 6th April 2007 and provides protection for tenants by preventing landlords and letting agents from unfairly withholding a deposit. The scheme protects all Assured Shorthold Tenancies in England and Wales (covering most tenancies since 1997).
The Tenancy Deposit Protection Scheme aims to:
- Ensure you get all or part of your deposit back, when you are entitled to it
- Ensure any disputes between yourself and your landlord/letting agency regarding your deposit are easily sorted
- Ensure that any landlords/letting agencies who fail to protect their tenants deposits are required to give back 3 times the amount of the deposit to the tenant
How does it work?
You pay your deposit to your landlord/letting agent as normal.
Within 14 days of paying your deposit your landlord/letting agent is required to give you details of how your deposit is being protected, including:
- the contact details of the deposit scheme used
- the contact details of the landlord/letting agent
- how to apply to have your deposit released
- information explaining the purpose of a deposit
- what to do if there is a dispute regarding the deposit you receive back
Getting your deposit back
At the end of your tenancy make sure everything is left how you found it, you have compensated the landlord for any damage to the property and you have paid all your rent and utility bills up to the end of the tenancy. Agree with your landlord how much of your deposit you should receive back. Within 10 days you should have your agreed sum back.
More information
For more information about the Tenancy Deposit Protection Scheme, details of the different schemes available, what to do if you have a dispute go to the Tenancy Deposit Protection Scheme website.