Tenancy Deposits


Tenancy Deposits

Legislation introduced on 6th April 2007 ensures that all tenancy deposits taken as security for the performance of any obligations, or the discharge of any liability arising under or in connection with the tenancy, are covered by a Tenancy Deposit Protection Scheme.

Choice Lettings is a member of The Deposit Protection Services and all tenancy deposits received are forwarded and protected by The Deposit Protection Service.

In accordance with The Tenant Fees Act 2019, from 1st June 2019, you may ask a Tenant to pay a refundable tenancy deposit (capped at no more than five weeks' rent where the total annual rent is below £50,000 or six weeks' rent where the total annual rent is £50,000 or above).

 

The deposit is the Tenant's money.  In the event there is an unresolved issue over the allocation of a deposit, the dispute can be referred to the scheme for a free independent third party adjudication.  The Landlord will be asked to provide evidence to substantiate a claim.  The adjudicator's decision will provide a fair and final resolution.  If you would like further information on this you can find this at http://www.depositprotection.com