Written April 2012
What is a TDS?
A landlord under an assured shorthold tenancy (AST) must protect a tenant’s deposit by using an authorised tenancy deposit scheme (TDS) operated by an approved scheme administrator. A TDS has two main objectives:
There are two types of TDS:
What are a landlord’s obligations under a TDS?
Within 30 days of receipt of the deposit a landlord must:
What sanctions are available if a landlord fails to fulfil their obligations under a TDS?
A further difficulty for Landlords who have not put the tenant’s deposit into the TDS is that they are not able to bring possession proceedings against the tenant under the accelerated procedure rules if they fail to pay their rent.
The above information is for general guidance and in part may form the opinion of the author. It is based on the law as at the date of this article. It should not be relied upon in part or in whole as a substitute for independent legal advice.
If you need advice regarding a tenant’s deposit then please contact the writer, John Donnelly, who will be pleased to advise you in light of your personal circumstances. We cannot accept any liability to third parties for the incorrect interpretation or application of the information contained in this article.
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