Legislation regarding tenancy deposits came into force on the 6th April 2007. If you are not protecting a tenant's deposit as a Landlord, you may be ordered to repay the tenant 3 times the value of the deposit amount and will not be able to service a Notice of Possession.
When a Landlord takes a deposit from a tenant, the deposit must be protected in a government- authorised tenancy deposit scheme.
The schemes:
Allow tenants to get all or part of their deposit back when they are entitled to it.
Make any disputes easier to resolve
Encourage tenants and Landlords to make a clear agreement from the start on the condition of the property
We also offer a comprehensive Contents Insurance policy specially designed for tenants which includes damage to the landlord's contents and alternative accommodation should the property become uninhabitable.
