Question: Is The Deposit Protection Scheme A Legal Requirement?

Who owns the Deposit Protection Service?

The Dispute Service Ltd.The Tenancy Deposit Scheme (TDS) is a government approved tenancy deposit protection scheme in England and Wales operated by The Dispute Service Ltd..

Are deposits refundable by law?

Yes, non-refundable deposits are legal in NSW, but that doesn’t mean you can never get your money back. The real questions are whether the business can justify the deposit amount, and why the agreement was terminated.

Does a private landlord have to protect my deposit?

Tenancy Deposit Protection is designed to protect the tenant’s money and the landlord’s property. Deposit protection is a legal obligation of the landlord and tenants should receive confirmation of this, by way of the prescribed information, within 30 days.

How do I get my deposit protection deposit back?

Either write to the relevant party, or send them an email requesting the return of your deposit. If your landlord paid your deposit funds into a deposit protection scheme, you can ask them to refund your money. This usually happens within 5 – 10 days following your request.

Is deposit protection scheme mandatory?

If you have an assured shorthold tenancy, your deposit must be ‘protected’ in a tenancy deposit scheme (TDP) until you move out of the property. The scheme keeps your money safe and makes sure you get back what you’re owed at the end of your tenancy.

What if my deposit is not in a protection scheme?

You can contact your local county court and start proceedings against your landlord. If it is found that your landlord has not protected your deposit they will be ordered to either repay it to you, or to pay it into a custodial scheme within 14 days.

How long do I have to protect a deposit?

Landlords should be protecting deposits and serving prescribed information within 30 days. If the deposit has not been protected in time, the landlord should return the deposit to the tenant.

How do I get my deposit back from the deposit protection scheme?

If you reach an agreement, your Landlord or Letting Agent will pay back the agreed amount of your deposit and contact us to confirm the deposit has been repaid. If you can’t reach an agreement, you’ll need to notify us of your dispute. To do this, email us at support@depositprotection.com.

How do I claim my deposit from DPS?

When you start the deposit repayment process. … The nominated tenant. … Decide how deposit should be paid. … Submit your repayment request. … Your landlord or letting agent will review your request. … If your landlord or letting agent hasn’t responded to your request.