Tenants

1. Start of tenancy

 

Step 1 Deposit paid by the Tenant

TenantdepositLandlord+Agent

  • Tenantwhat's this? gives depositwhat's this? to the Landlordwhat's this? (or Agentwhat's this?)

 

Step 2 Landlord/Agent protects the deposit

Landlord+Agentphone+PCarrowmydeposits

  • Landlord (or Agent) retains your deposit, but protects it with mydeposits.

 

Step 3 Deposit Protection Certificate

mydepositsCertificatearrow

  • mydeposits issues a Deposit Protection Certificatewhat's this? to confirm that the deposit is protected.
  • The Deposit Protection Certificate is sent to the Landlord/Agent.

Certificatearrowtenant

  • Landlord/Agent must sign and ask the Tenant to countersign the original copy of the Deposit Protection Certificate within 14 days.
  • The Landlord/Agent will keep a copy of the Deposit Protection Certificate for their records.

 

Summary

  • Your Landlord/Agent retains the deposit.
  • Within 14 days of taking your deposit, your Landlord/Agent must provide you with details of how your deposit is protected.
  • For a Joint & Several Tenancy Agreementwhat's this?, the Tenants and the Landlord/Agent need to agree who will be the "Nominated Tenant" for the deposit protection scheme. The "Nominated Tenant" will be the only Tenant who can contact the Scheme and deal with any disputes etc. [Please note: this does not affect the legal rights or obligations of the other joint Tenants].
NEXT: End of tenancy >>

 

Copyright © Tenancy Deposit Solutions Ltd trading as mydeposits
(company registered in England no. 05861648)
registered office address: 3rd floor, Kingmaker House, Station Road, New Barnet, Hertfordshire, EN5 1NZ

mydeposits is a trading name of Tenancy Deposit Solutions Ltd, an appointed representative of HFIS plc who are authorised and regulated by the Financial Services Authority.