Deposit Protection Service
What is the Deposit Protection Service?
Since April 2007, all assured shorthold tenancy deposits received by landlords and letting agents must be protected by a Government-authorised tenancy deposit protection scheme. The Deposit Protection Service, the UK's largest provider of deposit protection, offer the only Custodial scheme authorised by the Government. This means that your deposit would be held securely by them for the duration of the tenancy and returned after the tenancy ends.
The Deposit Protection Service has a document in pdf format (244KB) on their website which contains everything you will need to know about your deposit, including:
- The Importance of Protecting your Deposit
- How Does the Custodial Scheme Work?
- Online Access to your Deposit
- How do I Update My Details?
- What Happens When I Move Out?
- What Happens if we Can't Agree on how the Deposit is Repaid?