TENANCY DEPOSIT SCHEME

Your tenancy agreement covers many of the legal rights and obligations for landlords and tenants, however there are other issues both parties must be aware of. As a landlord, you can ask a tenant to pay a deposit before they move in... The tenancy agreement should clearly state when a deposit can be fully or partly withheld. Tenancy deposit protection (TDP) schemes guarantee that the tenants will get their deposits (Bonds) back at the end of their tenancy within the landlords property, if they meet the terms of the tenancy agreement and do not damage the property. Landlords must protect their tenants' deposits using a TDP scheme if they have let the property. Landlords must use one of the three approved TDP schemes to protect their tenants deposits where these conditions apply. If any other scheme is used, deposits are not protected in law.

Primary location: United Kingdom