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Tenancy deposit schemes

The landlord deposit scheme is a government-backed tenancy deposit protection scheme introduced for landlords. As a landlord, you must place your deposit with a government-backed tenancy deposit protection (TDP) when renting property on an assured shorthold tenancy (AST) that started after 6th April 2007. Be mindful there are separate (TDP) schemes in Scotland and Northern Ireland. IF you have any doubts about the tenancy deposit scheme, just call your local experts at: Letting Agents Wolverhampton on 01902 719888.

 

Free Landlord Guide

 

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There are three options for placing the tenancy deposit which can be found below. The choice of scheme or provider is entirely up to you, all of the scheme providers were put in place to help make sure that tenants get their deposit back. There are some conditions in place of course for the tenant to abide by which include: They must meet the terms of the tenancy agreement, they should not have damaged the property and all rent and bills are up to date. In addition to this, as a landlord, you must place the deposit in a scheme within 30 days of receipt.

 

Deposit Protection Service (Custodial & Insured)

My Deposits –

Tenancy Deposit Scheme (Custodial & Insured)

Tenancy deposit protection scheme

 

The very reason the tenancy deposit protection scheme was established was to facilitate the return of deposit in a professional and timely manner. As a landlord, you must return any deposits within 10 days of both parties agreeing how much needs to be paid back. If there is a dispute between a landlord and a tenant, then the deposit will be protected in the scheme until the issue is sorted out. Landlord with property within Willenhall, Tettenhall, and Wombourne can contact your local team experts at Letting Agents Wolverhampton on

 

Need help or advice with understanding the tenancy protection schemes? – Call our lettings team on 01902 719888.

 

Landlord deposit scheme

Tenancy deposit protection scheme

Tenancy deposit protection

Tenancy deposit protection

 

The obligation with the tenancy deposit scheme are governed by law and as a landlord, you will need to be aware that once you have received a deposit you will need to have resisted the deposit with one of the three government schemes within 30 days. You will then also need to provide the following:

 

Information that landlords must give to tenants

 

the address of the rented property

how much deposit you’ve paid

how the deposit is protected

the name and contact details of the tenancy deposit protection.

their (or the letting agency’s) name and contact details

the name and contact details of any third party that’s paid the deposit

why they would keep some or all of the deposit

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

Just a reminder – if you have property with Perton, Wednesfield or Codsall our lettings experts can offer free advice and help with landlord deposit scheme advice

 

Confused about the tenancy deposit scheme? – Don’t worry – just call your local tenancy deposit experts at: Letting Agents Wolverhampton on 01902 719888.