Tenancy Deposit Scheme
Tenancy Deposit Scheme (TDS)
It is a legal requirement that landlords must protect the tenancy deposit in a Government-approved tenancy deposit protection scheme if the rented property is on an assured shorthold tenancy (AST) agreement that started after 6th April 2007.
When you choose us, as your agent, the tenancy deposit is protected with the Government-approved Tenancy Deposit Scheme (TDS). This is one of the highest rated deposit schemes in the UK with award-winning customer service, an impartial team of adjudicators, a wealth of free resources and advice for both tenants and landlords.
The Tenancy Deposit scheme (TDS) is administered by:
The Dispute Service Limited
West Wing, First Floor, The Maylands Building, 200 Maylands Avenue, Hemel Hempstead, HP2 7TG.
USEFUL INFORMATION ABOUT TENANCY DEPOSITS
Under the Tenant Fees Act 2019, landlords letting properties in England, cannot take any more than the equivalent of five weeks’ rent as a deposit on tenancies where the annual rent is below £50,000, or six weeks’ rent on tenancies where the annual rent is £50,000 or more.
When we receive the deposit from the tenant, on your behalf, we will protect the deposits with TDS and serve the tenant(s) and any relevant persons linked to that deposit, with the Prescribed Information, including the scheme leaflet that explains everything about the deposit protection scheme, within 30 days of the deposit being received. You can read more about the scheme, deposit disputes and deposit repayment terms here: What is the Tenancy Deposit Scheme? Alternatively, please visit the TDS website for useful blogs, videos, case studies and guides today!