Tenancy Deposit Scheme
If your tenancy started after 6th April 2007, your landlord or agent must protect it using a government authorised tenancy deposit scheme. Within 14 days, the landlord or agent is required to give you details about how your deposit is protected, including:
1. The contact details of the landlord or agent
2. How to apply for the release of the deposit
3. Information explaining the purpose of the deposit
4. What to do if there is a dispute about the deposit
• With your money in the scheme, you can rest assured that your deposit will be safe because either the scheme's administrator will repay your losses, or a court will force payment plus a sum of three times the deposit
• Your deposit should be returned to you within ten days of the scheme being notified, but in an insurance-based scheme you may be able to have it returned on the last day of your tenancy.
Although your deposit is protected by the scheme, you should still be mindful of your responsibilities as a tenant. So it is a good idea to make sure that when you sign your tenancy agreement that you:
• Keep a detailed list of contents (furniture and fittings).
• Record the condition of the property and its contents (photographs are a good idea).
• Check the circumstances in which your landlord or agent could have a claim on your deposit.