Deposit Protection

Deposit Protection

Introduction

Since April 2007 all landlords who take a deposit from their tenant on an Assured Shorthold Tenancy (AST) in England and Wales must comply with the tenancy deposit protection legislation.

This means you must:

1. Protect the tenant's deposit with a government approved scheme within 30 calendar days of receiving it from the tenant.
2. Provide the tenant with the prescribed information within the same 30-day deadline.

There is no legal requirement to take a deposit. NRLA have teamed up with Zero Deposit to provide a cash free option with up to 6 weeks protection.

The NRLA has partnered with DepositGuard (TDS), mydeposits and Zero Deposit to provide you with a range of deposit protection options for your tenancies.

DepositGuard

DepositGuard offers competitive rates on Insured deposit protection and free Custodial deposit protection, in partnership with the Tenancy Deposit Scheme. 

mydeposits

  • Simple deposit protection for landlords, letting agents and tenants
  • The only scheme to operate in England, Wales, Scotland, Northern Ireland and Jersey
  • Government authorised tenancy deposit protection, protecting deposits since 2007
  • Trusted, alternative dispute resolution service designed to resolve disputes quickly and fairly
  • Part of the Hamilton Fraser family who have been providing specialist products for landlords since 1996

Zero Deposit

The NRLA has partnered with Zero Deposit to bring all of the benefits of their market leading and fully FCA regulated deposit replacement guarantee to members.