TDS

TDS

Tenant Deposit Rules and Guidance for Landlords and Tenants

Landlord must put the tenant's deposit in the government-backed tenancy deposit protection (TDP) scheme, if you rent your home on an assured shorthold tenancy or assured tenancy that started after 6 April 2007, in England and Wales.

Your deposit can be registered with one of three government recognised schemes which available for landlord / managing agent to use when they received the tenant(s) deposit and all these 3 scheme provides both services i.e. Custodial ( Money held by the scheme itself) or Insured ( Money should be kept by the landlord / managing agent in the dedicated ringfenced client bank account, and should be able to prove or display if question raised by local authority or the tenants).

• DPS (The Deposit Protection Services, Bristol) https://myaccount.depositprotection.com/#contactus
• TDS (Tenancy Deposit Scheme) https://www.tenancydepositscheme.com/learn-more/information-tds-lounge/contact-us/
• MyDeposits, https://www.mydeposits.co.uk/

What can not be covered by a scheme

Your landlord can accept valuable items such as a car or watch as a deposit instead of money, but they won’t be protected by a scheme.

There are separate TDP schemes in Scotland and Northern Ireland.

Schemes should make sure that tenants get their deposits back if they:

• Meet the terms of their tenancy agreement
• Don’t damage the property
• Do not owe the landlord rent or for bills

The landlord or letting agent must put the deposit in the scheme within 30 days of getting it, i.e. The date when they paid the holding deposit to secure the property, 30 days start from that date.

At the end of your tenancy, the landlord/agent must return the deposit within 10 days after agreeing how much tenant will get back.

If tenant has a dispute with the landlord, then their deposit will remain protected in the tenant deposit scheme until the issue is settled.
Holding deposits

The landlord doesn’t have to protect a holding deposit (money paid to ‘hold’ a property before an agreement is signed). Once the tenancy is signed, the holding deposit becomes a deposit, which they must protect.

Deposits made by a third party

Your landlord must use a TDP scheme even if someone pays your deposit else, i.e. a rent deposit scheme by relocation / council or your parents, partners. This information should be noted and documented in the tenancy agreement and prescribed information.

Information landlords must give to the tenants

Once the landlord/agent has received the deposit, they have 30 days to provide a tenant's:

• A prescribe information, which is to be signed by the tenants and landlords, exchange one copy each.
• Provide a tenant(s) a copy of the deposit certificate.
• The scheme leaflet giving information how the scheme works and much more.
• The address of the rented property, tenant's name and contact details must be mentioned in Deposit Certificate.

While dealing with the deposit you need to know some important details:

• How much is the deposit?
• How the deposit is going to be protected (Custodial and Insured Scheme) & return?
• The name and contact details of the tenancy deposit protection (TDP) scheme and its dispute resolution service their (or the letting agency’s) name and contact details the name and contact details of any third party that’s paid the deposit.
• Information on why a deposit can be withheld
• How to apply to get the deposit back
• What to do if you can’t get hold of the landlord at the end of the tenancy
• What to do if there’s a dispute over the deposit.

If your landlord doesn't protect your deposit

Contact a tenancy deposit scheme (TDP) if you’re not sure whether your deposit has been protected.

Deposit Protection Service (Custodial and Insured)
Telephone: 0330 303 0030

MyDeposits
Telephone: 0844 980 0290

Tenancy Deposit Scheme (TDS)
Telephone: 0845 226 7837
For getting your deposit back, you can apply to your local county court if you think your landlord hasn’t used a TDP scheme when they should have. Get legal advice before applying to court.

If the court finds your landlord hasn’t protected your deposit, it can order the person holding the deposit to either:

• Repay it to you (tenant)
• Pay it into a custodial TDP scheme’s bank account within 30 days

The court may also order the landlord to pay you up to 3 times the deposit within 14 days of making the order.

Deposit by third party, Information to be given by landlord

Any queries, feel free to contact Property Hub on 02089031002 or info@propertyhubltd.com

Property Hub Ltd are members of the members of the DPS and Custodial Scheme.