PLYMOUTH STUDENT ACCOMMODATION PROPERTY MANAGEMENT TERMS AND CONDITIONS
What should you know about Tenancy Deposit Protection?
Tenancy Deposit Protection was introduced in April 2007 as part of the Housing Act 2004 for all assured shorthold tenancies in England and Wales where a deposit was taken, as a way to raise standards in the lettings industry and ensure you are treated fairly at the end of the tenancy.
What are your landlord's legal obligations around Tenancy Deposit Protection?
Your landlord is required to protect your deposit within 30 days of receiving it. Your deposit is considered received from the moment they have the money (whether it’s a cheque, a bank transfer or cash), and not when the funds have cleared.
If they fail to comply with their legal obligations, there are two possible sanctions:
- They cannot end the tenancy or regain possession of your property under section 21 of the Housing Act 1998 until the deposit has been repaid or a court case has ended.
- You can apply to a County Court to receive compensation between once and three times your deposit’s value if:
- you think your deposit is not protected
- you’ve not received information about the scheme your landlord has protected your deposit with.
You can apply to a County Court to receive compensation between once and three times your deposit’s value if:
The history of Tenancy Deposit Protection
When was it introduced?
The requirement to protect a tenancy deposit taken for an assured shorthold tenancy in England and Wales was introduced on 6 April 2007, following its inclusion in the Housing Act 2004. Initially, deposits needed protecting within 14 calendar days of receipt by the landlord. This was subsequently changed to 30 days on 6 April 2012 as a result of the Localism Bill 2011.
Why was it introduced?
The legislation was introduced because the Government recognised many deposits were being unfairly withheld at the end of a tenancy. Introducing Tenancy Deposit Protection was identified as a way to raise standards in the lettings industry and ensure tenants are treated fairly at the end of the tenancy.
The legislation also introduced standards for the way deposit disputes are handled. All TDP providers need to offer a free Alternative Dispute Resolution (ADR) service for occasions where tenants and landlords can’t agree on how much should be deducted from a deposit.