THE DEPOSIT

The tenant's deposit is held as security against damage, rent arrears and any other breaches of the tenancy agreement.

From 6^th April 2007 all tenants’ deposits held on Assured Shorthold Tenancies (commencing after this date) must be protected by one of three schemes. Company Lets and other forms of tenancies are exempt. Deposits held on tenancies commencing prior to 6^th April 2007 which are allowed to become periodic (roll on without a new agreement being drawn up) need not be protected. There are two insured schemes where either the agent or the landlord may hold the deposit and a Custodial Scheme which is free but the scheme holds the deposit. Further details on the scheme operators are set out below.

·        My Deposits (Insured scheme): 3^rd Floor, Kingmaker House, Station Road, New Barnet, Herts, EN5 1NZ.  T: 0871 703 0552   F: 08456 343403   E: info@mydeposits.co.uk 

       W: www.mydeposits.co.uk

·        The Dispute Service (Insured scheme): PO Box 541, Amersham, Bucks, HP6 6ZR. T: 0845 226 7837   F: 01494 431123   E: deposits@tds.gb.com    W: www.tds.gb.com

·        The Deposit Protection Service (Custodial scheme): The Pavilion, Bristol, BS99 6AA. 

        T: 0870 7071707   F: 0870 703 6206   E: enquiries@depositprotection.com      

        W: www.depositprotection.com

INVENTORY, CHECK IN AND CHECK OUT

Under The Tenancy Deposit Protection Scheme, tenants must agree to any deductions made from the deposit.

In the event of a dispute that cannot be resolved (unless the disputed sum exceeds £5000) the matter will be referred to a free but binding dispute resolution service (or you can still choose to go to Court). In any event you will need to provide documentary evidence to prove the loss or damage you are claiming was caused by the tenant.

Whilst it is not a legal requirement, if you cannot produce a detailed inventory, signed by the tenant at the start of the tenancy, together with a signed, and equally meticulous “Check In” and “Check Out” report, a case examiner working for any of the schemes or a Court of Law, will almost certainly award the disputed sum to the tenant.