Tenancy deposit protection explained
If you take a deposit for an assured shorthold tenancy in England or Wales, it must be protected in a government-approved scheme.
The schemes
- Deposit Protection Service (DPS)
- Tenancy Deposit Scheme (TDS)
- mydeposits
- In Scotland: SafeDeposits Scotland and others
The 30-day rule
Protect the deposit and give the tenant the prescribed information within 30 days of receiving it. Missing this can lead to penalties and affect your ability to regain possession.
Returning the deposit
Agree any deductions with the tenant at the end of the tenancy and return the deposit promptly. Disputes go to the scheme's free resolution service.
Keep the paperwork
Store the protection certificate and send a copy to your tenant. In Estateflow you can choose the scheme, upload the certificate and send it to the tenant in a couple of taps.
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