Whether you’re a landlord or a tenant, it’s important that you know the deposit will be safely protected with the Deposit Protection Service (DPS). If you’re a landlord who prefers to manage your own let, we can safely transfer the deposit to your own approved scheme. A deposit is usually one month worth of rent and is payable upon or prior to signing of the tenancy agreement.
At the end of every tenancy both landlord and tenant may be required to agree on any deductions before monies can be returned from the DPS. It is important for the landlord to consider fair wear and tear, but if deductions are to be made, then it is up to the landlord to demonstrate that damage or wear has been caused by the tenant. If this cannot be proved then there can be no deduction. In the event of a dispute where tenants and landlords can’t agree on how much should be deducted from a deposit, the DPS offer a free Alternative Dispute Resolution (ADR) service.