What Is Tenancy Deposit Protection
What Happens If My Landlord Didn't Protect My Deposit?
- You could be owed £1,000's
- 100% Free Checks & Advice
- Trusted & Experienced
- Private & Confidential
- No Win No Fee Service
- Past & Present Properties
A guide to Tenancy Deposit Protection
Overview
Tenancy Deposit Protection, also known as TDP was introduced and added to measures to drive up the standards in the private rental market and is set out in the Housing Act 2004. These measures include licensing multiple occupancy homes (HMOs) and new safety rules.
Tenancy Deposit Protection applies to all assured shorthold tenancies (ASTs) in England & Wales, where a deposit is taken. Nearly all contracts to let a property in England & Wales is a Assured Shorthold Tenancy Agreement.
TDP came into effect on 6 April 2007 and would be valid for all new tenancy agreements from this date. There are two main aims of the scheme:
- To ensure good practice in deposit handling. In other words, when a tenant pays a deposit to rent a property, at the end of their tenancy, and assuming they are entitled to get it back, they can be assured this will happen fairly.
- To avoid or assist with any disputes by having an alternative dispute resolution service (ADR). It will also encourage tenants and landlords to have a clear agreement from the outset on the condition of the property, through best practice, such as through the use of inventories, agreement on the condition, fair wear and tear, etc.
In Summary
- Landlords are required to join a statutory tenancy deposit scheme, if they take deposit payments from tenants.
- This will mean all deposits are safeguarded
- Tenants will get all or part of their deposit back, if they have kept the property in good condition and are entitled to get their deposit back from the landlord.
- The scheme offers alternative ways of resolving disputes between tenants and landlords, which aims to be faster and cheaper than trying to resolve such matters in court.
How does Tenancy Deposit Protection work?
- The tenant pays the deposit to the landlord;
- The landlord then pays the deposit into the scheme;
- Within 30 days of receiving a deposit, the landlord must give the tenant the prescribed information (to be set out in secondary legislation) about the scheme being used;
- At the end of the tenancy, if the landlord and tenant agree how the deposit should be divided, they will tell the scheme which returns the deposit, divided in the way agreed by both parties;
- If there is a dispute, the scheme will hold the disputed amount until the dispute resolution service or courts decide what is fair;
- The interest accrued by deposits in the scheme will be used to pay for the running of the scheme and any surplus will be used to offer interest to the tenant, or landlord if the tenant isn’t entitled to it.
- The tenant pays the deposit to the landlord;
- The landlord retains the deposit and pays a premium to the insurer – the key difference to the custodial scheme;
- Within 30 days of receiving a deposit, the landlord must give the tenant prescribed information (to be set out in secondary legislation) about the scheme being used;
- At the end of the tenancy, if the landlord and tenant agree how the deposit should be divided, the landlord returns all or some of the deposit;
- If there is a dispute, the landlord must hand over the disputed amount to the scheme for safekeeping until the dispute is resolved.
- If for any reason the landlord fails to comply, the insurance arrangements will ensure the return of the deposit to the tenant if they are entitled to it
In each scheme, the deposit must be returned within 10 days of the landlord and tenant agreeing how the deposit should be divided, or within 10 days following notification of an ADR/court decision.
Tenancy Deposit Claims Have Featured In
Tenant Angels Is The UK's Only Tenant Deposit Claim Specialists
Compensation pay outs for tenants can be huge, all the way up to 9x the value of your deposit depending on the specifics of your case and the number of breaches your landlord has committed. One of our clients recently received nearly £12,000 from their claim!
There are ZERO upfront costs! We operate all of our cases on a no win, no fee basis.
All legal fees are recovered from the landlord when we win, along with a modest success fee from your compensation. Your compensation can be worth the return of your deposit in full, plus 3x your deposit value on top!
It’s so important to understand that your conversation with us and our legal team is 100% confidential. Your landlord or letting agent will not be able to find out that your exploring a tenancy deposit claim, right up until the point notice is served to them.
Our job is to make yours easier. The whole process is very hands-off for the tenant, in fact, you won’t be required to speak to your landlord or letting agent at all, from start to finish!
All of the solicitors we work with are carefully chosen to ensure we cover all bases when it comes to Tenancy Deposit Claims. This allows us to place you with the most suitable solicitor to handle your case successfully.
On average, we can have your claim ready to go and with a solicitor within 24 hours of you contacting us.
Of course, if you would prefer to move at a slower pace or place your claim on hold whilst you’re still in the property, that is absolutely fine. You’ll never feel rushed or obliged to do anything.
If you read a few of our reviews, they will all mention how easy it is to communicate with us, whether than be questions you have or images/documents you want to send us.
We’ll talk to you in the method you prefer, whether that be by phone, email, sms or as many clients prefer, by WhatsApp.
Chat To Our Friendly UK Based Team
Work Out How Much Your Tenancy Deposit Claim Value Could Be Worth
** A new tenancy comes into force after your fixed term expires, if you remain in the property.
For example; if you sign a 6-month AST and you remain in the property beyond 6 months but don’t sign another tenancy, this would be two agreements – fixed, then periodic.
Over £7 million Worth Of Claims Handled In The Last 12 Months
