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Tenancy Deposit Protection Scheme
The tenancy deposit scheme came into effect on 6th April 2007, which affects you as a Landlord and Castle Homes as your Agent. The purpose of this scheme is to ensure that tenants get all or a fair proportion of their deposit at the end of the tenancy and if there are any disputes between Landlord/Agent and the tenant they are resolved fairly and promptly by an independent adjudicator.
All new Assured Shorthold Tenancy Agreements created from 6th April 2007, where a deposit (bond) is taken, the money will now need to be protected by an approved scheme.
For managed properties, Castle Homes have joined an insurance backed scheme and will continue to hold the deposit as a stakeholder within a designated client account, this deposit will then be registered with the scheme providers.
To assist Letting Only Landlords who are not already part of a scheme, Castle Homes have also joined a custodial scheme where the tenants deposit will be placed ensuring you as a Landlord are compliant with current legislation.
For further details please contact our Business Development Manager on 01332 206655 or log onto www.direct.gov.uk/en/TenancyDeposit.
