deposit with TDS then DPS

  • Filter
  • Time
  • Show
Clear All
new posts

  • deposit with TDS then DPS

    Hello all

    I rented my flat out around 8 months ago. The agent I used registered the deposit with the TDS within 14 days.

    I then took over management of the property and the agent returned the deposit to me. They then advised me to register it with the DPS. I did this within 5 days of receiving the deposit in my account.

    I just need to check is this transfer of a deposit from one scheme to another via my bank account is O.K.

    The local C.A.B is very very hot on picking up errors with deposits and I want to be very sure it is correct.

    Thanks as always.

  • #2
    So long as the deposit IS lodged with the DPS AND you have provided the tenant with the prescribed information (and have proof of sending it, e.g. copy of what was sent + proof of posting such as a free certificate of posting) then you are pretty much safe from any non-compliance claim.

    This is because there was a recent High Court ruling (therefore binding on lower courts) which basically says the penalty does not apply if a deposit is protected late with the DPS (N.B. doesn't apply to the two other schemes).


    Here's the template for the prescribed info if you haven't sent it yet.


    • #3
      p.s. and you doubly don't have to worry because the deposit was previously protected with TDS.


      Latest Activity