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.

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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.

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

  • 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.

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If you’re a landlord, looking to let or you’re just interested in how much your property might be worth, the best way to get an accurate and detailed understanding is through a free one-to-one appraisal with one of our experienced local agents. Request an appraisal with us using the form below.

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