Did you know...
Deposits totalling £1.9 billion have been submitted to the custodial tenancy deposit protection scheme by 28,000 letting agents and 340,000 landlords.
It may be easy to assume that renting your house out is relatively straightforward – however, there are many landlords, new to the industry, who would tell you otherwise.
There’s a raft of things to remember that are not only best practice, but renting also carries a number of not insignificant legislative requirements.
If you’re new to the rental market, you may find our new checklist for landlords useful. It contains the minimum things you should be doing in order to provide the best possible rental experience for you and your tenants, as well as complying with your legal requirements.
In addition to protecting Deposits within thirty calendar days of receipt, Landlords/Lettings Agents must ensure that they comply with The Housing (Tenancy Deposits) (Prescribed Information) Order 2007.
The DPS cannot do this for landlords, but have produced a Prescribed Information template for information purposes only. To download a copy of this template, please visit our Processes page.
You can use this document as a template but it is your responsibility to ensure that it is correctly completed and served on the tenant(s) within thirty days of receiving the Deposit. You must ensure that you give the tenant(s) an opportunity to sign the Prescribed Information by way of confirmation that its contents are correct.
A Guide to Tenancy Deposits, Disputes and Damages, has been jointly published by all three government authorised tenancy deposit schemes.
The Department for Communities and Local Government (DCLG) have issued a useful 'Top tips for landlords, Assured Shorthold Tenancies' document.