Does My Deposit Need To Be Protected By My Landlord?

Whether you are renting a property through a private Landlord or through an agency more often than not you will be required to put down a deposit.  Hornsey Agencies requires 6 weeks deposit, however this can vary between agencies and Landlords.

Some people question why they have to hand over such a large amount of money, and wonder whether they will get their deposit back at the end of their tenancy.  You hear many stories about Landlords holding onto deposits… but fear not!  Since April 6th 2007 it has been a legal requirement that all deposits are put into a deposit protection scheme.

There are three tenancy deposit protection schemes, all government backed.  These are:  Deposit Protection Service (Custodial & Insured), Tenancy Deposit Scheme, and MyDeposits.

Your deposit will be put into one of these schemes within 30 days of receiving it.  Once your agency or Landlord has received the deposit they must provide you with the following information:

  • The amount of deposit
  • Address of the tenancy
  • Landlord’s name and contact details
  • A copy of the deposit protection certificate
  • How to get your deposit back at the end of the tenancy
  • Information about the purpose of the tenancy deposit protection scheme

You will get your deposit back at the end of your tenancy as long as you:

  • Meet the terms of your agreement
  • Pay all rent on time and have no money outstanding
  • Don’t damage the property in any way – this includes furniture

So next time you’re worried about handing over such a large amount for a deposit, be sure to check with your landlord or agency which deposit protection scheme they use.

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