In April 2007, legislation was put in place by the Government requiring all landlords throughout the UK to place their tenants’ deposits into the tenancy deposit protection scheme (TDPs), if you’re a private landlord renting your property out as an assured shorthold tenancy.
The TDP scheme was put into place to ensure that there is a high level of transparency and honesty achieved when dealing with tenants’ deposit with each scheme providing a free adjudication service to help resolve any disputes that may occur between the landlord and the tenant.
The benefit of these schemes is for both the landlord and tenant providing the tenants comply with the terms of their tenancy, return the property in a good clean condition and that they have not damaged the property that they have lived in and paid their rent and bills throughout, the deposit scheme aims to ensure that they get their deposit back at the end of the tenancy.
We are a member of the Deposit Protection Scheme (DPS). This ensures that every landlord that we work with has a tenancy deposit scheme in place.