The Deposit Protection Service
A deposit is paid by a tenant, either to their landlord or the agent, and it’s held as security for the performance of the tenant’s obligations under the tenancy agreement and to compensate the landlord for any breach of those obligations.
As of the 6th of April 2007 all deposits paid under an Assured Shorthold Tenancy (AST) must be protected by a deposit protection scheme, as part of the Housing Act 2004.
We use The Deposit Protection Service (DPS) as we find this scheme to be of the simplest procedure, most nonsense free and most reliable, and yet they are fast and fair.
Management of the deposit is included in the full management service; however, for those of you that do not require the full management service, but you would rather not deal with the hassle of registration and payment of the deposit, Dela Management offer ‘The Deposit Management Service’. This will provide you with the confidence that your tenant’s deposit is protected in full, adhering to all the legislation and regulation in place. It also means Dela will deal with any dispute that may arise using our experience and knowledge to minimise fuss as much as possible.
Deposit Management Service – £49.00 plus 10% of any successful claim (excluding the recovery of rent arrears).
For more information about our Deposit Management Service, please give us a call today.
For more information about the legislation of deposits, please visit www.depositprotection.com.