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Many tenants in the private sector give their landlords a deposit against possible non-payment of rent or damage to property. When a tenancy comes to an end, there is usually no disagreement about the return of the deposit. But sometimes there is, and this can cause much hardship and inconvenience to both landlord and tenant.
The Housing Act 2004 (Chapter 4, sections 212-5; & Schedule 10) made provision for both the protection of tenancy deposits and the resolution of disputes over their return. The Dispute Service has been awarded a contract by the Government to run one such scheme: The Tenancy Deposit Scheme (TDS).
The legislation came into effect on 6 April 2007. After that date all deposits taken for Assured Shorthold Tenancies should have been covered by a tenancy deposit protection scheme.
Greenwood and Company are members of TDS, as such we are obliged to administer the deposit as per the guide lines laid down by the TDS. All tenant deposits are ring fenced in a designated client account.
Click here for further details on The Dispute Service.