Deposit Protection How It Works
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Deposit Protection regulations for UK Landlords.

A number of exacting rules apply to protecting deposits. These rules must be adhered to – potential restrictions on removing your tenants from the property and even large fines can be imposed if ignored. If you are renting your home out as an assured shorthold tenancy (the most common type in England), then these rules will apply.

The deposit you receive will need to be placed in a government-backed tenancy deposit protection (TDP) scheme within 30 days. (The purpose of a TDP is to ensure that any deductions made from tenants’ deposits are fair and reasonable). The TDP schemes available in England and Wales are: • Deposit Protection Scheme • My Deposits • Tenancy Deposit Scheme

Within 30 days of receiving their deposit, you will also need to be supply tenants with the following information:

1
Name of the landlord and contact details.
2
The address of the property that is being rented.
3
The deposit amount paid.
4
The name and contact details of a third party (if a third party paid the deposit).
5
The details of how the tenants deposit has been protected, including the name and contact details of the TDP, as well as information about its dispute resolution service.
6
Details of how a tenant will receive their deposit back when the tenancy ends.
7
State any reasons that you might deduct any money from the tenants deposit.
8
What the tenant can do if they are unable to contact you at the end of the tenancy.
9
Give details of what the tenant can do if they disagree with you any deductions made regarding the return of the deposit.

Please be aware

Failure to protect your tenants’ deposits can result in the county court forcing you to pay your tenant compensation, which can be as much as three times the original deposit amount. This may also lead to difficulties in getting your tenants to leave the property when their original tenancy ends – you may be stopped from serving notices on the tenants until their deposit is protected or repaid back to them.

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