Tenancy deposit protection became a legal requirement in England and Wales in April 2007.
What must I do to comply with deposit protection law?
A tenancy deposit paid for an assured shorthold tenancy (AST) must be protected with an approved tenancy deposit protection scheme. The deposit holder must:
- Register the deposit with an approved scheme within 30 days of receiving the deposit;
- Serve Prescribed Information on the tenant(s), including any relevant person, within 30 days of receiving the deposit. The Prescribed Information also includes our official scheme leaflet.
TDS Custodial will give you the Prescribed Information when the deposit registration has been confirmed.It is your responsibility to ensure that the tenants receive it. The scheme leaflet must also be given and can be found in the Tools and Guides section of this website.
Should the landlord not comply with either of the above duties, the tenant may raise an action in court under the Regulations and ask the court to award between 1 and 3 times the deposit to the tenant.
TDS Custodial is free, secure and simple to use, making complying with the law quick and easy.