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Tenancy Deposit Protection

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  • Tenancy Deposit Protection

    The Tenancy Deposit Protection (TDP) was introduced in April 2007 in accordance with the Housing Act 2004.

    The scheme was originally introduced to protect the tenants from rogue landlords and estate agents who deliberately withheld tenants' deposits for their own financial gain leaving the tenants out of hundreds or even thousands of pounds, therefore, the government created legislation to help safeguard the tenant.

    The law states, that all monetary deposits taken from tenants on assured short hold tenancies in England and Wales after April 2007 are to be protected by an approved government deposit protection scheme.

    An overview of the scheme is as follows:

    The landlord must deposit the money in a government backed TDP (Tenancy Deposit Scheme) if the house is rented out on an assured short hold tenancy.

    The deposit, in this case, could be registered with one of the following:

    Deposit Protection Service
    Tenancy Deposit Scheme
    My Deposits

    The regulation ensures that the tenant gets back the deposit hassle free if:

    They adhere to the tenancy agreement
    Pay the bill(s) and rent
    Cause damage to the property
    The deposit was registered in the scheme within 30 days of money being received by the landlord or the letting agent.
    The TDP schemes are different in Scotland and Northern Ireland.
    Property To Rent

  • #2
    Re: Tenancy Deposit Protection

    Hi Agrodut,

    Just a small correction, the tenancy deposit protection schemes ensure that your tenants will get their deposit back if they don’t damage the property. You are right that there are separate protection schemes in Scotland and Northern Ireland.

    Note that it is strongly recommended to protect tenants deposit under the deposit scheme as there are some quite serious sanctions if you don’t.

    Cheers!
    Neli P.
    E-mail: [email protected]
    Website : http://blog.thenello.com/

    Comment


    • #3
      Re: Tenancy Deposit Protection

      Absolutely! The door is the first thing you see when entering the house!
      Keep calm and move house!

      Comment


      • #4
        Re: Tenancy Deposit Protection

        Is there any rule that you cannot rent the rental property?
        apartments for rent in abu dhabi
        2 bedroom apartments in abu dhabi

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