How does the scheme work?
Upon registering the deposit, we issue notification to the tenant that their deposit monies are registered and protected, the tenant will also receive evidence of this from the DPS direct. At the end of the tenancy both landlord and tenant must agree on any deposit deductions within ten days of the tenancy being terminated. When agreement has been reached the DPS will then release the balance of deposit funds back to the tenant.
How long does it take to get my deposit back?
Once deductions are agreed between you and your landlord your deposit will be returned. This normally occurs within 10 days of the end of the tenancy.
What happens if I don't agree with the amount deducted?
It is always better to attempt an agreement between yourself and your landlord. However, if no agreement can be made you can seek free independent advice from the scheme before considering further action.
What if my lease is not an Assured Shorthold Tenancy?
An Assured Shorthold Tenancy, is where the tenant is an individual or group of individuals (not a company etc) and the annual rent is less than £100,000 per annum. If this applies the deposit will be held by us in a deposit account until the end of the tenancy and upon confirmation that both the tenant and landlord agree on its return and deductions (if applicable).