Tenancy Deposits Part II
If you have an assured shorthold tenancy, your deposit must be ‘protected’ in a tenancy deposit scheme (TDP) until you move out of the property. Most private renters have an assured shorthold tenancy.
The scheme keeps your money safe and makes sure you get back what you’re owed at the end of your tenancy.
Your deposit has to be protected even if someone else paid it for you, for example your parents or a friend.
Your landlord or agent has 30 days from when you pay your deposit to: protect it with an authorised scheme and give you certain written information about the scheme.
The deposit must remain protected throughout the tenancy.
There are penalties for landlords who fail to protect your deposit within the time limits.
You can file a compensation claim against a landlord or agent who failed to protect your deposit or protected it late.
If you are given a section 21 notice it will not be valid if your deposit is unprotected or protected late and you didn’t get written information about your deposit.
If you are having problems with your landlord and the tenancy deposit and you need advice, get in touch with us.
