Why do I need to register my tenant’s deposit?

All deposits taken on an assured shorthold tenancy that started after April 2007 must legally be registered with a government-approved tenancy deposit scheme. 
Most tenancies with lettingaproperty.com are assured shorthold tenancies (ASTs) and will require a deposit. These official schemes protect the funds during the tenancy and will fairly resolve any disputes that arise. If the court finds that a tenancy deposit is not protected properly, they can order the landlord to:
  • Repay it to the tenant; or
  • Pay up to 3 times the amount of the deposit
  • Pay it into an approved scheme’s bank account within 14 days
The court may also order the landlord to pay the tenant up to three times the deposit within 14 days of making the order.