Lettings
Deposit
Scheme
Deposit Registration – It’s
the law!
Property Fit Executive Lettings can manage your deposits for
you.
Many landlords or their agents
receive a deposit against possible non-payment of rent or
damage to property. When a tenancy comes to an end, there
is usually no disagreement about the return of the deposit.
But sometimes there is, and this can cause much hardship and
inconvenience to both landlord and tenant.
The Housing Act 2004 redressed
this by making it a mandatory provision for both the protection
of tenancy deposits and the resolution of disputes over their
return, effective from 6 April 2007.
The most popular regulator is ‘The Dispute Service’
a not-for profit organisation that has been awarded a contract
by the Government to run a scheme.
The Tenancy Deposit Scheme requires
landlords to register details of the start and end of all
Assured Shorthold Tenancies on which they take a deposit.
The Dispute Service (TDS) runs this particular scheme and
is required to supply summarised details of all tenancies
to the Department of Communities and Local Government (CLG).
The Tenancy Deposit Scheme has
been set up to service three principle objectives.
- Protects deposits through
the tenancy
- Ensure the return of the
deposit promptly at the end of the tenancy, where there
is no dispute
- Where there is a dispute,
ensure it is dealt with fairly and quickly by an independent
complaints examiner
If you are not registered to
hold deposits, Property Fit Executive Lettings can help you
Rental Guarantee
Rental Guarantee – For
Peace of Mind and Cash Flow Protection
Sometimes even the tenants with the best references fail to
pay the rent through circumstances beyond their control, such
as redundancy or relationship breakdown.
Rent Guarantee is designed to
protect you, providing you with the peace of mind that your
rental income will be received.
Most Rental Guarantee policies
are available on the back of a tenant passing an appropriate
standard credit reference.
Rental Guarantee products are
ideal and essential for any UK professional letting
If you would like further information,
let Property Fit Executive Lettings put you in touch with
people who can help you.
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