Since April 6th 2007 it has been the law that a tenants deposit must be protected within a tenancy deposit protection scheme for all short hold tenancy agreements. A Hitchen&Co landlord can be rest assured that their tenancy deposit protection responsibilities will be met.
We use the only custodial scheme, The Deposit Protection Service for the protection of our landlords tenant deposits.
Deposits taken before 6 April 2007 do not need to be protected by a deposit protection scheme such as The Deposit Protection Service. However, a landlord needs to be careful, as if an existing tenancy is renewed and a landlord agrees a new fixed-term tenancy, the initial deposit taken must then be protected under a registered scheme.
The exceptions to this rule are listed below:
• Landlords living with the tenant in the property
• Landlords of tenancies with rent exceeding £100,000 a year
• Company let tenancies
• Student accommodation that is let directly by universities or colleges.
• Please note under the consumer rights act 2015 we are required to inform you that we do not have Client money protection (CMP) insurance