Tenancy deposit protection schemes
If you have moved into a private rented property (on or after 6 April 2007) and gave your landlord or letting agent a deposit towards the property, they are required to place this money in a Tenancy Deposit Protection Scheme.
These schemes were introduced by the government with three main aims:
To allow tenants to get all or part of their deposit back at the end of the tenancy when they are entitled to it
To resolve disputes between tenants and landlords quickly and easily
To encourage tenants and landlords to agree at the start of the tenancy on the condition of the property
There are two types of tenancy deposit protection scheme:
Custodial based schemes - The tenant pays the deposit to the landlord or agent who then pays the deposit into the scheme
Insurance based schemes - The tenant pays a deposit to the landlord who retains this deposit. The landlord then pays a premium to the insurer
Within 14 days of receiving a deposit the landlord or agent must inform you how your deposit is protected. They must also give you contact details of the selected scheme and information relating to how to apply for the release of the deposit, the purpose of the deposit and what to do if there is a dispute regarding the deposit at the end of the tenancy. If there is a dispute between yourself and your landlord/agent, the dispute resolution service or courts will decide what happens to the deposit.
Further Information
For further information on tenancy deposit protection schemes see the
direct gov (opens in a new window) 
website.
