Since the 6th April 2007, whenever tenants pay a deposit on an Assured Shorthold Tenancy, the Landlord or letting agent is required by law to protect these deposits through a Government-backed deposit scheme. We use the Tenancy Deposit Scheme (TDS) to protect tenants deposits.
What is TDS?
TDS has been developed to ensure that the deposits are protected and that disputes about their return are resolved swiftly, inexpensively and impartially. Under TDS:
- deposits will be protected during the tenancy.
- where there is no dispute at the end of the tenancy, the deposit should be returned promptly by whoever is holding it.
- where there is a dispute about the return of the deposit it will be dealt with fairly by the Independent Case Examiner (ICE).
- the ICE will make his decision quickly and the deposit will be paid out without unnecessary delay.
At the start of your tenancy you will be issued a Certificate of Tenancy Registration. This document details the property address, landlord’s name, tenant’s name, dates of the tenancy and the deposit amount. It also has a Tenancy Unique Identification Code. It is important that you keep this document in a safe place.
For further information please contact our office or access TDS at www.tds.gb.com