You must place your tenants’ deposit in a tenancy deposit protection (TDP) schemes if you rent out your home on an assured shorthold tenancy that started after 6 April 2007. The schemes in England and Wales are:
These government-backed schemes ensure your tenants will get their deposit back if they:
- meet the terms of your tenancy agreement
- don’t damage the property
- pay the rent and bills
You (or your letting agent) must put your tenants’ deposit in the scheme within 30 days of getting it.