Below is a quick summary of how to protect a deposit using the most popular scheme, the Deposit Protection Service (DPS).
- If you receive a deposit before you grant a tenancy, the deposit needs to be a “reservation fee” so the 14 days do not start until the tenancy has been granted. A suitable form is available here (F010) to give to the prospective tenants creating a reservation fee.
- Download and complete our tenancy agreement and section 213 notice (F002).
- When completing the notice, ensure that all fields possible are filled in.
- IN PARTICULAR, do not forget ... Please login or signup to continue reading this content