Deposit Scheme for Landlords

Since 6 April 2007 landlords of residential properties who hold deposits from their tenants should have signed up, under measures brought in under the Housing Act 2004, with one of three authorised schemes the purpose of which is to provide greater protection to tenants in respect of those deposits.  The schemes either require the deposit to be held by the independent scheme organiser, or require that the deposit is covered by insurance.  Additionally each scheme must provide a dispute resolution facility to which both the tenant and the landlord can refer if there is a dispute over the return of the deposit at the end of the tenancy.  Please contact us if you require details of the schemes available.