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Tenancy Deposit Protection

money

Tenancy Deposit Protection (TDP) was introduced by the Housing Act 2004 as part of a package of measures to raise standards in the private rented sector.

Since 6 April 2007, all deposits (for rent up to £25,000 per annum) taken by landlords and agents for assured shorthold tenancies (AST) in England and Wales have had to be protected by an authorised tenancy deposit scheme.

ASTs are the usual tenancies made between a private landlord and his tenants.

There are two main aims:

  • to ensure good practice in deposit handling, so that when a tenant pays a deposit, and is entitled to get it back, he or she can be assured that this will happen
  • to assist with the resolution of disputes by having an alternative dispute resolution (ADR) service . It will also encourage tenants and landlords to agree - at the start of the tenancy - the condition and contents of the property

A landlord is ultimately responsible for ensuring that any deposit he or she takes from a tenant in respect of an AST is protected and that the statutory requirements of tenancy deposit protection are met.

Information for landlords/agents and tenants

Information on the tenancy deposit protection schemes and how they work can be found:

on the Directgov website at: www.direct.gov.uk/tenancydeposit . Includes Tenancy Deposit Protection leaflets (available in several languages)

and from the three government approved scheme providers:

  1. The Deposit Protection Service (DPS) is the only custodial deposit protection scheme. For more information, visit www.depositprotection.com  or call 0870 707 1707.
  2. MyDeposit (previously Tenancy Deposit Solutions Ltd) is an insurance-based scheme sponsored by the National Landlords Association and administered by Hamilton Fraser Insurance Services. For more information, visit www.mydeposits.co.uk  or call 0871 703 0552.
  3. The Tenancy Deposit Scheme (TDS) is an insurance-based deposit and dispute resolution scheme. For more information, visit www.tds.gb.com or call 0845 226 7837.

More information is also available from:

Tenants: Keeping your deposit safe - Tenancy Deposit Protection from 6 April 2007

Page last updated on 25 May 2012