This entry is part 1 of 9 in the series Protect / Unprotect a DepositThere are a few alternatives that you could consider instead of  taking a deposit. ... Please login or signup to continue reading this...

This entry is part 2 of 9 in the series Protect / Unprotect a DepositThe Deposit Protection Service. This is by far the most popular service amongst our members who have decided to take a deposit. The Custodial Scheme is free of charge and the landlord / tenant can receive interest (but is linked to Bank of England base rate). The deposit must be transferred to the scheme administrator who will hold the deposit for the duration of the tenancy....

This entry is part 3 of 9 in the series Protect / Unprotect a DepositA deposit must “as from the time it is received” be dealt with in accordance with an approved scheme [s.213(1) Housing Act 2004]. Note, in that sub-section, there is no 30 day time limit which is important for agents. If an agent passes the deposit to his landlord client for protection and that landlord does not then protect the deposit, the agent will ......

This entry is part 4 of 9 in the series Protect / Unprotect a DepositEssentially, all the schemes work the same way. You will need to as a minimum * Register yourself with your chosen scheme * Log in to the system and add the property. * Add the tenant and deposit details to the property. * For Mydeposits, you will need to pay the protection fee * For Deposit Protection Service you will be given the option to either pay the deposit on-line or...

This entry is part 5 of 9 in the series Protect / Unprotect a DepositBelow is a quick summary of how to protect a deposit using the Deposit Protection Service (DPS) which is the free to use “custodial scheme”. Note: If the deposit is being protected late (after 30 days from receipt) the Deposit Protection Service is the best scheme to use to protect the deposit but please note late protection will still mean a liability to pay a...