Deposits

The Letting Factory collects five weeks deposit.

The deposit is paid by us into the Deposit Protection Scheme. This is a free government scheme (see below).

Tenant Find Landlords will be asked to open up a DPS Account in their own name, where we will transfer the deposit over to once the funds have cleared in our DPS Account.

The Deposit Protection Scheme (DPS)

In 2004, the Government introduced as part of The Housing Act 2004 tenancy deposit protection. This is for all Assured Shorthold Tenancies (AST’s) in England and Wales where a deposit has been taken.

All deposits since 6th April 2007 have to be registered within 30 calendar days into a Government Approved Scheme.

Further details can be found at www.depositprotection.com.

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