Tenancy Deposit Protection Scheme
Under the provisions of the Housing Act 2004 every landlord or letting agent that takes a deposit for an Assured Short-hold Tenancy in England and Wales must join a Tenancy Deposit Protection Scheme. The new regulations came into effect from April 6, 2007. The purpose of this regulation is to ensure good practice. The secondary purpose of the new regulations is to try and keep disputes between landlords and tenants out of the courts by encouraging Alternative Dispute Resolution.
In November 2006 three companies were awarded contracts by The Government to run Tenancy Deposit Schemes:
- The Deposit Protection Service (The DPS)
Insurance backed schemes
- Tenancy Deposit Solutions Ltd (TDSL) (now trading as my deposits)
- The Tenancy Deposit Scheme (TDS)
For More information please contact us.
We are members of The Property Ombudsman redress scheme for Lettings which gives you complete peace of mind when renting a property through Nexus Sales & Lettings Ltd.
Nexus Sales and Lettings
House Sales – Property Sales – House Lettings – House Rental – Rental Portfolio Management – Property Valuation – Rental Management – Key Holder Services – Landlord Services – Tenant Finder
Stony Stratford – Milton Keynes – Potterspury – Wolverton – Bletchley – Buckingham – Towcester
Tel: 01908 990069 Email: email@example.com