Tenancy Deposit SchemeFrom 6 April 2007, new regulations controlling the holding of tenancy deposits come into force, as laid down by the Housing Act 2004. A deposit is any sum paid by a tenant as a surety against his failure to pay the rent or to breach any other term of his tenancy .Any deposit taken by a landlord or agent in respect of an Assured Shorthold Tenancy (AST) must be held in accordance with the scheme run by bodies appointed by the government. The UK Document Shop has teamed up DPS (The Deposit Protection Service, an appointed goverment body).Simply purchase and download the Tenancy Deposit Scheme Form (click here for a preview) and then register with the DPS online by clicking here.The DPS is completly free, simple and easy and only takes 2mins to sign up.While the main aim is to protect tenants whose landlords withhold deposits without good reason, the regulations are also intended to simplify and speed up the process of returning deposits and settling disputes arising from them.
