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Tenants DepositsDeposit Protection Service
As you may well be aware, from 6 April 2007 new Government legislation was put into place stating that: all deposits (for rent up to £25,000 per annum) taken by landlords and letting agents for Assured Shorthold Tenancies in England and Wales, must be protected by a Government backed tenancy deposit protection scheme.
There are three schemes available:
The Deposit Protection Service (TDPS)
Tenancy Deposit Solutions Ltd (TDSL)
The Tenancy Deposit Scheme (TDS)
The result of the new legislation being that Tenants are better protected in the event of a dispute at the end of the tenancy.
There are serious implications in terms of financial penalties for Landlords who do not comply with the new legislation. We are happy to either advise you exactly what is required, or we can take care of everything for you.