By law, since 6th April 2007, landlords and agents (in England and Wales) who take a deposit from tenants under an Assured Shorthold Tenancy agreement (AST) must protect that deposit using a government authorised tenancy deposit protection scheme. These schemes are regulated to ensure deposit holders are accountable.
Tenancy deposit protection schemes have been put in place by the government to ensure tenants get all or part of their deposit back when they are entitled to it, and that disputes over deposits are dealt with professionally. It is the landlord or agents responsibility to ensure the deposit is registered with a government approved scheme.
At PPM we use a government approved deposit scheme to register deposits. Tenants can enjoy their tenancy safe in the knowledge that their deposit is secure and accounted for in an approved and regulated manner.
If you would like to know more about tenancy deposits, please contact our office in Swan Street, Spalding.