What is the Tenancy Deposit Protection Scheme?
Under the Tenancy Deposit Protection Scheme (TDPS) every landlord in the country is legally bound to put the tenancy deposit that they receive from a tenant taking an Assured Shorthold Tenancy into a Government approved scheme.
It is designed to ensure the highest level of transparency and honesty is maintained when dealing with tenancy deposits. Should a dispute arise between a landlord and tenant at the end of a tenancy, the scheme provides a free adjudication service to help resolve any disputes with regards to the distribution of the tenancy deposit.
The scheme aims to ensure that the tenant receives their full deposit back providing they have complied with the terms of their tenancy agreement and return the property in a good, clean condition throughout.
How can DB Roberts help?
When undertaking a Schedule of Condition, DB Roberts record video images in addition to clear colour digital images of all properties, their contents, fixtures and fittings. This is carried out both prior to a tenancy starting and also once the tenancy has ended and the tenant has vacated the property. This limits the potential for a dispute occurring although there is still a possibility that this may arise when a tenant disagrees with a landlord’s claim. Should this be the case, they should refer to the details of the dispute adjudication service provided at the start of their tenancy. DB Roberts is a member of The Dispute Service which endeavours to resolve any issues both fairly and in a timely manner.
DB Roberts will take the tenancy deposit from a tenant at the start of the tenancy and register it with the TDPS. At the end of the term, once an agreement has been reached by both parties, DB Roberts will then distribute the Tenancy deposit speedily and efficiently
All parties can be entirely confident that their details are held in strict confidence and in accordance with the Housing Act 2004.
How does it work?
Landlords must register any deposit they receive in the TDPS within 30 days and must also provide tenants with a range of details including the name and contact details of the TDPS that they are using. They should also inform the tenant of the relevant scheme’s dispute service. In addition to this they must document the circumstances under which they would claim some or all of the deposit at the end of a tenancy and how the tenant can apply to get it back.
Monies remain protected by the TDPS should a dispute arise and will continue to be so until a resolution has been achieved. This gives both landlords and tenants a high level of security and allows time for a compromise to be reached or a decision made.
Found the perfect property?
If you've seen a property that you would like to rent through DB Roberts, download the tenant application form below and take it in to your local DB Roberts branch or scan the completed application(s) and photo identification to Property Management.