Do you fall under the shorthold tenancy in the UK? Then, it is time to ensure that your landlord has placed your rent deposit in a government-backed tenancy deposit scheme (TDP). For, a recent survey conducted by PropertyLetByUs has revealed that a majority of the private sector tenants are worried about landlords not placing their deposits under the TDP.
It may be noted that TDP, which is in force since April 2007, makes it mandatory for your landlord to place your deposit with any of the three schemes relevant to your tenancy. The schemes ensure that the rent deposit is returned to you if you meet the terms of your tenancy agreement. However, tenants will not claim the entire tenancy deposit if they have damaged the property or not paid for the utilities. Disagreement between the tenant and landlords are common whenever the tenancy agreement comes to a close. The government evolved the scheme to protect the interests of tenants.
Usually, a landlord should place the deposit within 30 days of receiving it. But tenants fear that the landlords may not necessarily follow this rule. It is important that your deposit is protected in case there is any dispute with your landlord on the tenancy agreement. Under such circumstances, your deposit will be protected under the law till the issue is sorted out between the tenant and the landlord. Therefore, it is important to check with your landlord or lettings agency that your deposit is placed in the relevant scheme.
Your landlord must return your deposit within 10 days of you both agreeing how much you’ll get back. If you’re in a dispute with your landlord, then your deposit will be protected in the TDP scheme until the issue is sorted out.