D
UNE 2
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1.14 ACSF L4 Interactive Resource: Verb Tenses
Tenancy Deposit Protection
By law, anyone who signs an assured short-hold tenancy agreement in England and Wales should have their deposit protected in a tenancy deposit
scheme. It's up to the landlord to decide which scheme to use, but your deposit should be equally protected whichever one they choose. Any
disputes arising over the return of deposits can be resolved through the schemes, which act as independent arbiters.
The Custodial Tenancy Deposit Scheme
Landlords pay deposits into the Deposit Protection Service, which can be done online and by phone. It's free to landlords and letting agents, as the
scheme uses part of the interest earns from holding the deposit to cover its costs.
When it gets to the end of the tenancy, both parties have to agree on the amount of deposit to be returned in order for the scheme to release the
funds. Funds are then released directly into the tenant's bank account.
"I loved having the deposit scheme when I was a tenant," said Sue Bing, a spokeswoman for the CTDP. "As a homeowner and landlady myself, I
always make use of it with my tenants."
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