Deposit protection:
Make sure you’re doing the right thing

If you let a property in England, Wales or Scotland on an assured shorthold tenancy, you must place your tenant’s deposit in a government approved tenancy deposit protection (TDP) scheme.

Tenancy Deposit Protection

You must place your tenants’ deposit in a tenancy deposit protection scheme if you rent out your home under an assured shorthold tenancy (AST), in accordance with the Housing Act 2004. To ensure that all of your deposit is held adhering to client money regulations, Rentify recommends landlords use a Deposit Protection Service (DPS).

If you do not place your tenant’s deposit in a tenancy deposit protection scheme, you may have to pay a large fine.

As a private landlord, you are required to pay your tenants’ deposit into the scheme within 30 days of receiving it, to ensure you are in full compliance with the law.

Deposit return issues

If you and your tenant cannot decide about how much deposit should be given back at the end of a tenancy, you can use the deposit protection scheme for help. This offers a free dispute resolution service. Please note, you will both be asked to provide evidence and required to accept the final decision.

What penalty could I face?

If you don’t protect your tenant’s deposit, a court can order you to repay it within 14 days. You may also have to pay up to 3 time the value of the deposit.

Learn more about how to protect your deposit:

You are required by law to:

  • Put a deposit in the scheme within 30 days of getting it
  • Return a deposit to the tenant within 10 days of the tenancy ending, unless there is a dispute over any deductions for damage or outstanding bills
  • If you've requested a holding deposit on top of the tenancy deposit, you must also place this in the scheme within 30 days of the tenancy start
  • Use a TDP scheme even if the deposit is paid by someone else like a tenant’s parents
  • Provide your tenant with full details of the scheme you are using and the amount of deposit you have placed with them

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