Welcome to the Tenancy Deposit Schemes Website
The Guild of Residential Landlords - Tenancy Deposit Schemes website
IMPORTANT ANNOUNCEMENT FOR LANDLORDS
Should a dispute arise concerning the deposit, it is our opinion that a landlord is well advised NOT to agree to use any of the schemes alternative dispute resolution (ADR). You should make it known to the scheme that you do not wish to use the ADR (as opposed to remaining silent on the issue).
The reason for this is that we have looked at a number of cases and it seems the ADR is a generally unfair system, mainly due to the lack of appeal. In the words of one of the schemes, the ADR is "a relatively rough and ready process compared to formal arbitration".
One case we have seen is where a tenant failed to pay the final three months rent. The scheme was notified but the tenant claimed he had paid the money into the landlords bank via cash but has "mislaid the receipts". The whole deposit was allocated to the tenant!
No scheme can force you to use their ADR and where you state you won't, then the matter may be dealt with through the courts. The key problem with the schemes ADR is that there is no appeal.
**New**
The Deposit Protection Service (custodial scheme) has produced a prescribed information document which is available to download from their website free of charge. It doesn't contain a lead tenant agreement which is required by their rules which would have been useful but otherwise it is very suitable.
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This website provided by the Guild of Residential Landlords, aims to be of assistance to landlords deciding which tenancy deposit scheme to use and most importantly to provide assistance with the prescribed information which must be provided to the tenant within 14 days of the landlord (or agent) receiving the deposit.
The prescribed information is the most important element of the tenancy deposit legislation yet it is the most complicated. It is not helped by scheme administrators providing insufficient and incorrect information to landlords!
