Home > Legal Articles > Deposit Protection Schemes

Deposit Protection Schemes

Posted on Wednesday, 21st August 2013 by

Photo Credit: Images_of_Money via Compfight cc

For all assured shorthold tenancies created after 06 April 2007, Landlords must enter deposits into a deposit protection scheme. There are four schemes available that include:

  1. Tenancy Deposit Scheme
  2. MyDeposits
  3. Deposit Protection Service (Custodial and Insured)
  4. Capita Tenancy Deposit Protection

The above schemes are all supported by the government and are designed to help ensure either the Landlord or Tenant gets an appropriate proportion of the deposit depending on whether there has been damage to the property and the rent and bills have been paid.

Landlords are obliged to enter the deposit into one of the above schemes within 30 days of receipt of the deposit.

When the tenancy ends, if Landlord and Tenant agree the amount of deposit to be returned then it must be given to you within 10 days of the end of the tenancy. However, if there are  any disputes the deposit is protected until issues are resolved.

For Landlords it is important to note that if you fail to enter the deposit into one of the above schemes the Tenant has the right to apply to the county court to have the deposit protected. The court also has a discretion to award the Tenant damages being 1 to 3 times the amount of the deposit.

It is clear that both Landlords and Tenants need to ensure they comply with the above schemes and terms of the tenancy agreement to ensure they get a fair proportion of their deposit back.

Paul is our Managing Director in Leicester. All of our staff in Leicester are experts in their fields and dedicated to quality client care. If you would like to find out more about our solicitors in Leicester please contact us.

Keep up to date with our daily blogs through the Edward Hands & Lewis mobile app, just search Edward Hands on the iPhone or Android store to download our app for free.

Talk to our legal team

The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal advice and should not be relied upon as advice. Please see our website terms and conditions for full details of our disclaimer. If you are interested in obtaining advice, please contact one of our lawyers who will be happy and able to advise you on your own particular circumstances.

1 Step 1

Quick Quote

Your Nameyour full name
Contact Number
Post Codeyour full name
Your Messagemore details
0 /

Paul Stubbs - Litigation
Paul Stubbs - Litigation
paul.s@ehlsolicitors.co.uk 01332 862 113
Related author articles
Article tags

Map and pin icon
Sign up to our newsletter
  ERROR: 8 - CURL error: