Deposit Protection Scheme
A Guide from the DPS
How the schemes work – This is a guide to explain how the deposit protection schemes work. When setting up an Assured Short hold Tenancies (ASTs) in England and Wales, required to protect deposits with a government-authorised tenancy deposit protection scheme.
Your letting agency will do this part for you.
Once your agent has registered the deposit, they can:
- View details of all deposits they have protected with us
- Submit deposit payments on line
Once a tenant’s deposit is protected, they can:
- Request repayment when they move out
- Custodial Deposit Protection
- The letting agent and tenant can both request the repayment of a deposit at the end of a tenancy. If one party requests a repayment independently, the other needs to confirm whether they agree with the amount to be repaid. This can be done by accessing the deposit through the DPS website, and submitting your repayment instructions. Once both the letting agent and the tenant have submitted your repayment instructions, the deposit will be released.
- If there is a dispute over the amount of deposit to be returned to the tenant, the tenant needs to notify us. We’ll then contact the letting agent to resolve the dispute. Any monies agreed to be repaid to the tenant must be completed and confirmed by the letting agent. Please visit www.depositprotection.com , where you can: Read more about complying with the legislation, learn more how we work and how we handle disputes.
- Our decision is final
- There is no appeal granted