Goadsby Knowledge Hub

Deposits

Updated: 23 September 2022

The Housing Act 2004 requires all tenant deposits held within an assured shorthold tenancy to be protected through a government-backed tenancy deposit scheme. This places an obligation upon all landlords and letting agents.

In England and Wales the tenants deposit can be registered within any of the following schemes:

  • Deposit Protection Service
  • My Deposits
  • Tenancy Deposit Scheme

At Goadsby we protect deposits using the Tenancy Deposit Scheme which is operated by The Dispute Service Ltd (TDS).

When resolving deposit disputes, TDS will refer specifically to 3 documents, the Tenancy Agreement, the in-going inventory and the check out report. It is therefore very important that a comprehensive inventory is prepared as this will provide evidence of the condition of the property and its furnishings at the tenancy commencement.

Categories:

Residential Lettings

Sub Categories:

Legislation

Tags:

Legislation , Louise Rankin , Renting

Related Articles

Preparing your Property for Letting

23 September

Whether you are a new landlord preparing your first property in readiness for letting or have let for many years, it is important to bear in mind that clean and well maintained properties attract better rents, quicker lets and longer tenancies

Read more

Once you have purchased your buy to let property

23 September

Legislation and regulations can make the lettings industry a minefield. Updates to legislation are frequent and non compliance can lead to fines and even custodial sentence’s it is therefore advised that you use an experience and reputable letting agent to ensure you are compliant and kept up to date with new and changes to legislation.

Read more

Right To Rent

23 September

Effective from 1st February 2016 the Right to Rent is a check a landlord, agent or householder renting out property should make to ensure that the prospective tenants or occupants have a right to rent

Read more
Your session will expire in xx.xx
Continue or Log Out