FAQs

1. What is the Tenancy Deposit Scheme

According to the Dispute Service, the TDS has been set up to service three key principles:

• Protect deposits through the tenancy
• Ensure the return of the deposit promptly at the end of the tenancy, where there is no dispute about the deposit
• Where there is a dispute about the deposit at the end of the tenancy, ensure it is dealt with fairly and quickly by the Independent Complaints Examiner (ICE)

2. What sort of tenancies will deposit protection apply to?

All deposits that are taken by landlords in relation to assured short hold tenancies (AST) in England and Wales

3.  What happens if a deposit has not been protected?

The government has put in several measures to prevent Landlords from trying to avoid the TDS.  They are as follows: -

• The Landlord will loose his/her entitlement to evict the Tenant using the Notice-only procedure under section 21 whilst the deposit is not protected under one of the schemes.
• The Tenancy Deposit Scheme applies to deposits that were taken after 6th April 07 however it also applies to deposits that were taken before that date when a new tenancy agreement or renewal document was set in place.
• The Housing Act prohibits deposits which are not money!
• If you take a deposit for an Assured Short hold Tenancy which is not placed under one of the schemes, the tenant can go to Court to ask for the deposit to be returned to them or the deposit to be placed under the custodial scheme and an order that the Landlord pay a fine of three times the amount of the deposit money within 14 days.
• www.lawpack.co.uk

4. Who needs an Inventory and why?

Every landlord and tenant should have an Inventory prepared for each property. The report details not only what’s inside the property, but also what condition it is in. This then determines whether the full deposit or part of it is returned to the tenant.

5. Do I still need an Inventory report if the property is unfurnished?

Yes! Some landlords believe that because their property is unfurnished there will be nothing to include in the Inventory. The Inventory will list everything that is included in the property, this includes the doors and locks, door frames, walls, ceilings, light fittings, flooring and carpets, curtains and blinds, smoke detectors, plug sockets, door handles and so the list goes on. Without an independent Inventory, how could you prove that your house was not painted bright orange when you left the property, but in fact a clean white?

6. Why should letting agents or estate agents use this service?

Employing the services of an inventory clerk allows you the agent to concentrate on the letting of the property. Not only do we provide your landlord or tenant with a professional inventory, but you eliminate the need for an extra member of staff to deal with the bulk of paperwork that accompanies an inventory, and the commitments that run alongside employing another member of staff.

The landlord or tenant will have peace of mind that by using an Independent Inventory Clerk, such as Twenty 20 Inventories they have done everything in their power to minimise the chances of a deposit dispute arising.