Tenancy Deposit Scheme

Tenancy Deposit Scheme for Managed Properties: as you’re aware, no doubt, all tenants will give an initial deposit against possible damage to your property and when a tenancy comes to an end, providing they haven’t damaged your property, the tenants get their money back.

Even if your property is a Let Only property, we can provide a similar service at a small additional cost.  It seems straightforward enough – but sometimes there can be a problem. When a problem with the deposit arises, being part of the Tenancy Deposit Scheme can help.

The Housing Act 2004 dictates that all deposits must be held under a dedicated, government-backed scheme. This means that at the start and end of any Assured Shorthold Tenancy, we’re obliged to register the details of any deposit taken. The aim of this is to protect deposits throughout the tenancy and to ensure the return of the deposit promptly at the end of the tenancy, providing there’s no dispute.

At Julie Twist Properties, we utilise the Tenancy Deposit Scheme, run by The Dispute Service. If there is a dispute about the deposit, the scheme will ensure that it is dealt with fairly and quickly by an Independent Complaints Examiner (ICE).

Property Inspections: for managed properties, we carry out quarterly inspections to check on the condition of the property. At these inspections, a report is completed, a copy of which is forwarded to both the landlord and the tenant. These inspections are invaluable as they help give you peace of mind that your property is being looked after, and if there is a problem, it means that this is usually discovered before the end of a tenancy. We recommend that all landlords conduct inspections – whether through their lettings agency or by themselves.

Common questions asked about deposits!

When did tenancy deposit schemes start?

Do I have to take a deposit?

What sort of tenancies will deposit protection apply to?

Are there different types of scheme?

What is a tenancy deposit?

Can I take a deposit in some other form?
How long will the landlord have to take action?
What information does the landlord have to give the tenant?

How long does a landlord have to return a deposit
How do disputes get resolved?

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