mydeposits

mydeposits

NLA Full Landlord Members join for just £5 and benefit from reduced protection fees.

 

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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 deposit with a government 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.

my|deposits is designed to ensure you comply with your legal obligations. It is a government-authorised scheme, jointly owned by the National Landlords Association and insurance experts, Hamilton Fraser.

*There are different deposit protection laws for landlords in Scotland and Northern Ireland.

Benefits

  • Comply with deposit protection legislation.
  • Once protected, you hold the deposit for the duration of the Tenancy Agreement.
  • The protection covers full length of the Tenancy Agreement and a rolling Statutory Periodic Tenancy (provided you inform us of the extension).
  • At the end of the tenancy you are free to return the deposit to the tenant without involving myIdeposits.
  • If you and your tenant can't agree on the amount of deposit to be returned at the end of the tenancy, our free and impartial dispute resolution service can resolve the dispute.

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