Tenancy Protection Schemes
On all assured short-hold tenancies that commenced after 6th April 2007 a tenants’ deposit must be placed in a tenancy deposit protection (TDP) scheme.
It is for the property deposit bond only, these government-backed schemes ensure as a tenant you will get your deposit back if you:
- meet the terms of your tenancy agreement
- don’t damage the property
- pay the rent and bills
If there are any discrepancies upon tenancy ceasing on the above the government scheme will act as adjudicator between landlord and tenant.
On properties managed solely by the landlord it is the landlords responsibility to place the deposit money in to such a scheme within 30 days of receiving it. Where a property is managed by a letting agent it is the agents responsibility to place the deposit money in to such a scheme within 30 days of receiving it.
Here at Goldfinch Estate Agents for all our managed properties we use The Deposit Protection Scheme (DPS) supplying all of our tenants with the prescribed information & deposit certificate upon tenancy commencing.
If you have any questions in relation to this contact our rental department on 0191 4274959 or email [email protected] alternatively you can seek further information by clicking this link: https://www.depositprotection.com/