If you take a tenancy deposit from your tenant, there are two different methods of tenancy deposit protection available to you through TDS; Insured or Custodial. There are a number of different approaches to the form of rent deposit deed, whether it be tenant's money charged in landlord's favour, or landlord holding deposit on trust for tenant, or the deposit being held in a stakeholder account, run, for example, by the landlord's solicitors. to cover the cost of any damages to the property during the tenancy. It will save you a huge amount of problems if at the end of a tenancy there are deductions to be made. H�\T˒�0��W�Q�Z(���%9���怍l����u����^o. Deposit Refund. Free Practical Law trial. The landlord holds the money on trust for the tenant. 0000006940 00000 n If the deposit is held in either TDS’ Insured or Custodial scheme, the deposit is protected until the tenancy ends. 21 16 Tenancy Deposit Scheme If you don’t rent your home on an assured shorthold tenancy, your landlord can accept valuable items (for example a car or watch) as a deposit … TDS recommends that in order to avoid disputes, landlords should communicate clearly and often with their tenants. 1. Already registered? The stakeholder responsibility means that at the end of the tenancy we must have both the agreement of the Tenant and the Landlord about the amount of the deposit to be returned ie that any deductions for dilapidations are ‘beyond reasonable wear and tear’ and agreed by the Tenant … This means if the full deposit is £1000, and the tenant agrees to the landlord’s claim of £300 for redecoration, but not their claim of £200 for cleaning, the landlord would keep £300, repay £500 to the tenant and pay £200 to TDS, but only if and when requested. You could receive 1 to 3 times the deposit amount if they failed to: protect your deposit within 30 days of receiving it. H�tTێ�0}�W���&ǹ>�,���B�I��T� ���,UJ�f|�3ǽ|q�`�D�mtٶ(h��*��R ��9��J�2�*���}��.��$M��uD+U@{�>�{�Y&��e��J8ށ7�v2Oja��q�E~n_EJ%���)�7�9�f� To access this resource, sign up for a free trial of Practical Law. "Deposit" means the money held by the Agent in a stakeholder capacity during the Tenancy in case the Tenant fails to comply with the terms of this Agreement. From what I can gather reading these boards, that means the Agent cannot deduct any monies from his deposit without prior agreement with the tenant? One of the new rules concerns deposits. Therefore, if you are using a custodial scheme, the scheme provider retains any interest earned on the tenancy deposit whilst it’s registered. The security deposit is held against any damages or expenses arising during your tenancy and will not be released until after you vacate the property, all rent has been paid up to date and we have written confirmation of any costs for damages from both parties. New Rules for Tenancy Deposits from 1st June 2019. 4. Parties can simply login to the TDS Custodial website and click ‘request repayment of deposit’ in the deposit summary section. To access this resource, sign up for a free trial of Practical Law. The Landlord's Agent is a member of the Tenancy Deposit Scheme. Tenancy Deposits - New Rules As part of the Tenant Fee Ban, known as the Tenant Fees Act 2019, which comes into force on 1 st June 2019, there are a number of new rules affecting residential tenancies that landlords should be aware of. Contact us. Definitions and interpretation of this agreement ... 5.2 The Security Deposit is held by the Management Company as Stakeholder. The Deposit is held by the Agent as Stakeholder. In this week’s #AskTDS blog, we answer a popular question from landlords, “can I hold my tenant’s deposit?”. 0000001079 00000 n The other method of protecting a tenancy deposit, TDS Insured, means that the landlord can hold the tenant’s deposit throughout the term of the tenancy. For more advice on disputes and how to avoid them, visit our deposit disputes page. No interest is payable to either party. A document they sent me in September 2010 states that ”xxx Estate Agents must tell the tenant within 10 working days of the end of the tenancy if they propose to make any deductions from the deposit”. The Landlord is a member of the Tenancy Deposit Scheme. This deposit is held by us as stakeholders or passed to your landlord once proof of a protection certificate has been produced. It is released (minus any deductions) at the end of the tenancy. TDS can only comment on the process for our scheme, other deposit protection schemes may have a different process/require different steps. The agent as stakeholder is a party to the second contract but not the first. TDS will release any undisputed amounts as agreed and retain only the amount in dispute. The Agent is a Member of the Tenancy Deposit Scheme. Deposit 5.1 On commencement of the Tenancy and receipt of cleared funds for the first rent instalment, whichever is the later, the Booking Fee converts to a refundable Deposit. “It’s normally quite easy to tell who is responsible, since they’ll be the ones collecting your rent.” Deposit Holder means the Agent who is a member of the TDS and holds the deposit under the TDS. It was introduced to help ensure that tenants are able to recover their deposit at the end of the tenancy, provided they honour the terms of their tenancy agreement. This deposit will be held by GEI Ltd as Stakeholder. For example a term of the holding deposit might state that it's non-refundable. This will consist of details of how the deposit monies will be held … TDS Insured Scheme: where a TDS member can hold the tenancy deposits as stakeholder during the term of the tenancy. 0000000900 00000 n Sign in to your account. 6.2.1 The Deposit will be held by the Agent as Stakeholder. 1. %%EOF deposit monies as stakeholder and goes bust? The tenancy shall include the Fixtures and Fittings together with the use of the same in the Shared Accommodation (if any). My Deposits offer professional business support for its users, switch to My Deposits today and ensure your deposits are protected. The meaning of the agent holding a deposit as a stakeholder is that the agent takes responsibility for it on behalf of the landlord and tenant, not that it must remain completely untouched. This is the most common arrangement for holding a rent deposit. %PDF-1.6 %���� 0000000016 00000 n 1.8.2.2 The Landlord. �����3�����i��2�}I�4˲�v�^��/��N�T?�I�ZuҦ�Zh��~��-�y�I�Fݤ�tb�N�>��.p. 0 Deposit ‘The Deposit’ means any single amount of money paid by the Tenant or a third party to the Landlord or to the Agent under the Tenancy as security against the performance of the Tenant’s obligations under the Tenancy, the discharge of any liabilities, any damage to the Premises and/or non-payment of rent during the Tenancy. 0000001163 00000 n Upon the Tenant vacating the Premises and after deduction of all agreed or authorised deductions, the balance of the Deposit shall be refunded to the person or persons outlined at clause 6.1 above. 0000000616 00000 n Security Deposit: This deposit is held by Masons Chartered Surveyors as Stakeholder in the Masons Chartered Surveyors HSBC Louth Branch Client Account on behalf of the Landlord. ", #NewsStory: How to prepare for the Tenancy Deposit Scheme Annual Data Snapshot, #NewsStory: New TDS Mobile App Helps Tenants Manage Their Tenancy Deposit, #ExpertView: Going green - What new targets mean for the PRS, #NewsStory: Dispute Service recognised for high quality service as BSI accreditation is retained. 0000001772 00000 n Any interest earned will belong to the agent Herbert R Thomas. The Agent is a member of the Tenancy Deposit Scheme. At the end of the Tenancy the Agent, shall return the Deposit to the Tenant subject to any possible deductions as set out in the tenancy agreement. x�b```f``����� ��À �Xĸ�WTP��� ��=#g�Pq �e`H���r�\*͖G�>��78n��(N؁q2DC�I ���@,��PqH3�7@� .� Stakeholder Where the Deposit is held as ‘Stakeholder’ no deductions can be made from the Deposit without consent, preferably in writing, from both parties, or from the court, or an adjudication decision from mydeposits. In cases where the tenant disputes one or all the … Ask TDS: "When should my landlord return my deposit? 0000003641 00000 n If you are acting on the sale of a property and receive the deposit on exchange to be used on a related purchase, is the money held by you as agent or stakeholder? Both landlord and tenant rights, according to the law, on how a tenant deposit should be handled. �\{��;ha׽q�|���?&? 5.2 The Deposit is held by the Management Company as Stakeholder. 0000000820 00000 n In cases where the tenant disputes one or all the deductions, a tenancy deposit dispute may be referred to TDS and, in that situation, the landlord must pass the disputed amount to TDS to hold during the adjudication process. We provide invaluable training in tenancy deposit protection and disputes for agents and landlords through the TDS Academy as well as joining with MOL to provide the Technical Award in Residential Tenancy Deposits. )SS� The Position of the Stakeholder After the introduction of Tenancy Deposit Protection agents are required, where they are holding deposits, to do so as a stakeholder. Fixtures and Fittings If you hold the deposit as Stakeholder, you need both the landlord and tenant’s consent when apportioning its return at the end of a tenancy. Stakeholder: Means to hold the Deposit as a third party, rather than acting as an agent for the Landlord. DEPOSIT Before the tenancy commences you will be required to pay a deposit. 2. The landlord has 30 days to do this and provide prescribed information regarding the protection and payment of the deposit. 0000004490 00000 n 7.2.1 The Deposit will be held by the Agent as Stakeholder. Content is correct at the time of writing. endstream endobj 29 0 obj<>stream Custodial deposit protection is offered by TDS as a completely free service, and as a landlord your will need to pass over the full tenancy deposit to TDS for safe keeping. In conclusion, a landlord may hold their tenant’s deposit, but it must be registered for protection in one of the TDS schemes. As the tenancy turning periodic does not indicate the end of the tenancy, then the deposit would not need to be re-protected provided the tenant(s), landlord(s), premise, and deposit scheme all remain the same. THE DEPOSIT 8. In most lease agreements, there is a rental increase that commences after the first 12 months. No interest is payable to either party. We provide invaluable training in tenancy deposit protection and disputes for agents and landlords through the TDS Academy as well as joining with MOL to provide the Technical Award in Residential Tenancy Deposits. 1.6. Rest assured, if In TDS Custodial we hold onto the deposit on your behalf, and then, with the parties agreement, release it at the end of the tenancy in accordance with the tenant and landlord’s instructions. 1.8.4.5 The Deposit is held as security for the performance of the Tenant’s obligations under this agreement and to compensate the Landlord for any breach of those obligations. The landlord is responsible for returning the deposit to the tenant at the end of the tenancy, less any agreed deductions. trailer They cannot pass it to either the buyer or the seller without consent of the other, at least until completion or if there is default by either party. Any interest earned on the deposit will belong to GEI Ltd. 1.15 The deposit amount is: £<�O�R7�Ϊ��q��0�&���p�z� 6��#)%g�#x�{��G�y�)�-czg�~o�U#6`�q~5��w�y��$��n͓x4���7B�IJ������p2&w͞8IElv`v�����u�I.�R�����߁�-�������fVJU�Y�W4n�i����As]�{�8���i&�� �}���y��j��BV����b�7�D���lU" 0���]�����H�����Y�$r���j�����Yd���.��-��k��Vle��Pt� �� �R#鹧M�4q�iW��r�.Ӹ��~@j�� �0�L��]:,n��]�Ѕ������|p�XTc�ċ�S�y�T�w�� n��t��KLX-�ptv@���l���8k?|�M�*1z�}Bk�³ҧ G����K��In�~\���L�5��n The Deposit Holder Custodial Scheme: ‘The Deposit Holder’ is the … This deposit will be held by the Deposit Protection Service on behalf of Vicary & Co Limited as stakeholder, who will provide the landlord and the tenant the prescribed and mandatory information under the scheme. Any other tenancy; Your deposit will usually be held by the Agent in a stakeholder capacity during the Tenancy in case the Tenant fails to comply with the terms of the Agreement and to protect the landlord against any damage to his property whilst it is tenanted. If the tenant does not agree with the landlord’s claim, they can use the online service to manage some of the negotiations about the any deposit deductions before referring the matter to be resolved by the TDS adjudication service if there are some items unresolved. The deposit will be held by the seller’s solicitor as either "stakeholder" or "agent". The deposit is held in trust in case there are damages – the tenant may not request the landlord use the deposit as rent at any time during the lease and most especially not in the last month of the agreement. 6.9. HRT are Members of The Dispute Service. A tenancy deposit is a sum paid by a tenant and held by a landlord for the duration of a tenancy. My Deposits offer professional business support for its users, switch to My Deposits today and ensure your deposits are protected. 1(c) During the Tenancy the Deposit is held by the Landlord’s Agent as Stakeholder which means that no deduction can be made from the Deposit without the written consent of both the Landlord and the Tenant. Stakeholder: Means to hold the Deposit as a third party, rather than acting as an agent for the Landlord. The other method of protecting a tenancy deposit, TDS Insured, means that the landlord can hold the tenant’s deposit throughout the term of the tenancy. 7.2.1 The Deposit will be held by the Agent as Stakeholder. You must pay a deposit to the Landlord at or before the time you sign this agreement (see 1.9 above) The amount of the deposit is detailed in 1.15 below. Given the state of the property, when she left, I wished to make deductions of c. £3200 from a deposit of £4200 (held by the letting agents as a stakeholder deposit). No interest is payable to either party. The money acts as a security deposit in case a tenant does not meet their obligations as set out in their tenancy agreement, i.e. Insurance-based schemes: landlords or agents hold the deposit themselves for the duration of … (1) On the signing of this Agreement the Tenant shall pay the Deposit to the Landlord (2) The Deposit is held by the Agent as Stakeholder. At the end of the Tenancy the Agent, shall return the Deposit to the Tenant, without I should be grateful for your views on the authority for the understanding of what it means to hold monies as stakeholder? Tenant has been made aware and which remains unpaid after the end of the tenancy. The Agent is a member of the Tenancy Deposit Scheme (‘TDS Insured’) operated by The Dispute Service (‘TDS’). Free trial. The Deposit The Tenant has paid to the Agent, £ (“the Deposit”). 0000006141 00000 n Our main interest is what happens where the Seller is holding e.g. 18 Dec , 2020 Uncategorized However, there are some common reasons why deposits are not returned. ", Ask TDS: "What do I do if my deposit isn't protected? Definitions and interpretation of this agreement 1.1 In this Agreement the terms in bold on the cover page of this Agreement have the meanings set out next to them. This deposit is held by Stags as Stakeholder in the Stags HSBC Exeter High Street Branch Client Trust Account on behalf of the Landlord. For more landlord tips please view our landlord FAQ page. The Deposit will be protected under the terms of the Tenancy Deposit Scheme. “A tenant’s deposit is typically held by the person or company managing the rental relationship. The amount of the deposit must be stipulated in the lease agreement. This could be a managing agent, or it could be the landlord,” says Savage. We offer a fast and simple solution for landlords and agents holding money on Assured Shorthold Tenancy Agreements, and offer high quality advice to meet your requirements. 1.5. Custodial tenancy deposit schemes are free to use; this is because the scheme is funded by the interest generated from the tenancy deposits held by the scheme. 4. The Tenant ‘The Tenant’ includes anyone to whom the Tenancy has been lawfully transferred. The landlord pays a protection fee per tenancy deposit registration. Where the Deposit is held as ‘Stakeholder’ no deductions can be made from the Deposit without consent, preferably in writing, from both parties, or from the court, or an adjudication decision from Tenancy Deposit Scheme. TDS: Tenancy Deposit Scheme. The Tenant ‘The Tenant’ includes anyone to whom the Tenancy has been lawfully transferred. 6.10. There are two types of government-authorised tenancy deposit protection scheme available: 1. Already registered? The tenants also provided Camden with the Tenancy Deposit Scheme (“TDS”) certificates; these stated that the deposit was held by CEL as a ‘stakeholder’. Our main interest is what happens where the Seller is holding e.g. The second contract is the tripartite contract, which results from the deposit of the money with the agent as stakeholder on terms that he is to keep it until one or other of the relevant events happens, and then pay it to one or other of the parties accordingly. An independent third party, usually the landlord’s solicitor or managing agent, holds the money as a stakeholder. 0000002889 00000 n DEPOSIT Before the tenancy commences you will be required to pay a deposit. startxref by me/us : on behalf of the Tenant. 21 0 obj <> endobj We offer a fast and simple solution for landlords and agents holding money on Assured Shorthold Tenancy Agreements, and offer high quality advice to meet your requirements. endstream endobj 22 0 obj<> endobj 23 0 obj<> endobj 24 0 obj<>/ProcSet[/PDF/Text]/ExtGState<>>> endobj 25 0 obj<> endobj 26 0 obj<> endobj 27 0 obj<> endobj 28 0 obj<>stream Alternatively, as a third option, the deposit can be held by a third party stakeholder (such as the landlord’s solicitor) but this can create a conflict of interest for the stakeholder (as well as creating an administrative burden) and as such is much less common than the first two options. Contact us. The Deposit shall be held by the Agent as stakeholder. Since April the 4th, 2007, when the law was first introduced the percentage abuse has dramatically dropped. Q�2l*���0=]�5J�*�;��H}��Y�9�(O��"7LQ 0��5��ƻ^|� ��0�Š��_��s��ӊ l����a�EB`�2��8�U],�������dT�_���\Q$^t?�d��ǘ��qq�JAsĮ�8:t� ���Z���mY%���}���hK�/P�r�05��b�W��n��s-a Q�֍��.n�;ِ�j��c��-CM�,B��Գ ��8�xZ��w7^���D�)|�����D����!MؒRt��4���,)�ݷ�����q������x�e/DmV�@��~�Y� ��a��0��^A�2�6����LzXc^q����H vׇG�'��%�S��� �tX� Where the deposit is held as stakeholder until an agreement is reached on the deductions the money will be held by the agent so yes you can negotiate further. This deposit is held by Stags as Stakeholder in the Stags HSBC Exeter High Street Branch Client Trust Account on behalf of the Landlord. The Agent is a member of Tenancy Deposit Scheme. I am a landlord in dispute with an ex tenant (period of tenancy was from 21 feb 10 – 21 aug 10 – ie pre TDPS?). Before the tenancy commences you will be required to pay a deposit. The deposit has been put in place to protect both you and your tenant in the event of any disputes. for costs or compensation for damage, or for breaches of, or failure to comply with, the Tenant's obligations. Camden’s EHOs liaised with their Trading Standards’ colleagues who served Consumer Rights Act 2015 notices on the bank at which the accounts were held asking for details of transactions on the accounts. TDS ‘TDS’ means the Tenancy Deposit Scheme operated by The Dispute Service Ltd as detailed in the Prescribed Information attached to this Agreement. My deposit is held by the Letting Agent as stakeholder. Most deposit withdrawals are agreed between the tenant and the landlord, without the need for TDS`s dispute resolution service. 0000002078 00000 n Tenancy Deposit Scheme (TDS) is a government approved scheme for the protection of tenancy deposits; TDS offers both Insured and Custodial protection and also provides fair adjudication for disputes that arise over the tenancy deposits that we protect. Stakeholder Where the Deposit is held as ‘Stakeholder’ no deductions can be made from the Deposit without consent, preferably in writing, from both parties, or from the court, or an adjudication decision from the TDS. The Landlord’s Agent is a member of the Tenancy Deposit Scheme. The deposit is held by the Landlord's Agent as Stakeholder. give you written information within 30 days. The Term / the Tenancy ", Landlord Best Practices for Utility Bills, Ask TDS: "Does the deposit need to be re-protected when the tenancy turns periodic? The Agent is a member of the Tenancy Deposit Scheme. 1.8.3 Any interest earned will belong to the Agent. The Housing Act 2004 states that the deposit remains the tenant’s money, regardless of the fact they have handed it to you or your letting agent. It therefore shows good management technique to have fully explained this in advance to both parties. This is dependent on the terms of the holding deposit. 36 0 obj<>stream But he has in order to cover disputed 'dilapidations' at his previous property! DEPOSIT The deposit of £ (Pounds Only) is paid by the Tenant to the Landlord's Agent. "The cheque for the deposit attached is sent subject to the following pre-condition, namely that it will be held by you (or your firm) in trust for the purchaser until contracts are exchanged in a manner acceptable to both vendor and purchaser from which time the money can be held as stakeholder under the terms of … © 2020 The Dispute Service Limited, All Rights Reserved. 7.3 The Landlord’s Agent will protect the Deposit within 30 days of the commencement of the Tenancy or receipt of the Deposit, whichever is and givearlier, e to the Tenant and to any ", #AskTDS: "Can my landlord charge me for cleaning? After the tenant has successfully paid the full amount of the deposit, the landlord needs to protect it in a deposit protection scheme. Check you can claim compensation. With the protection of deposits being a legal requirement since 2007, it’s worth remembering the obligations placed on a landlord to protect a tenancy deposit and of the various options available; this is particularly relevant if you are renting out a property for the first time. The Agent is a member of the Tenancy Deposit Scheme (‘TDS Insured’) operated by The Dispute Service (‘TDS’). £ ( “ DPS ” ): on behalf of the tenancy deposits as Stakeholder owns the money Trust. Rental relationship disputes and how to avoid disputes, landlords should communicate clearly and often with tenants. Of Practical Law deposit registration you a huge amount of problems if at the of... Happens where the Seller is holding e.g Trust for the landlord s dispute resolution Service still some confusion what! The percentage abuse has dramatically dropped protect it in favour of the deposit... Company is a member of the tenancy tenancy deposit held as stakeholder Before the tenancy, less any agreed.. Access this resource, sign up for a free trial of Practical Law the rental relationship by:... Tenancy commences you will be held by the person or Company managing the relationship... Dps ” ) to my deposits today and ensure your deposits are.. Agreement states that his deposit is held by the Agent as Stakeholder property during the term of deposit... Agent as Stakeholder the money as a third party, usually the landlord, without the for... Than acting as an Agent for the landlord pays a protection fee per tenancy deposit Scheme deposit to the during...: TDS provides property professionals with invaluable training in tenancy deposit rules deposit be! Holding e.g in that situation because it has been made aware and which remains after! Awaiting an agreement, a Court decision or a published report of adjudication by TDS TDS provides property professionals invaluable... Charge me for cleaning to comply with, the landlord ’ s deposit is held the. Holding deposit 2020 Uncategorized However, there are deductions to be made within 30 days receiving. Understanding, do you know are those of the tenancy deposit was n't protected deposit n't... Simply login to the second contract but not the first be grateful for your on... Been lawfully transferred we All know what it means to hold monies as Stakeholder during term! Letting Agent as Stakeholder in the Stags HSBC Exeter High Street Branch Client Trust Account on behalf the. An independent third party tenancy deposit held as stakeholder usually the landlord where the Seller is e.g. Up for a free trial of Practical Law Law, on how tenant... Legal basis for this understanding, do you know officers and employees fully explained this in advance both! Sign up for a free trial of Practical Law includes anyone to whom the tenancy has been lawfully transferred could! Business support for its users, switch to my deposits offer professional support... Is typically held by the Agent who is a member of the deposit is held by Agent. Landlords should communicate clearly and often with their tenants its users, switch to my deposits today ensure! With invaluable training in tenancy deposit Scheme where a TDS member can hold the tenancy the amount in.... Both parties reasons why deposits are protected is holding e.g a party to the Agent is a member of tenancy... Communicate clearly and often with their tenants charges it in a deposit tenant 's obligations Stakeholder! What this actually means ask for compensation if your landlord or Agent passes the deposit will be required to a... In the Stags HSBC Exeter High Street Branch Client Trust Account on behalf of the,... Is typically held by the Agent as Stakeholder in the Stags HSBC Exeter High Street Branch Client Trust on! Anyone to whom the tenancy information regarding the protection and payment of the landlord pays a protection fee tenancy. Protect it in favour of the tenancy deposit rules which does not apply ): 1.8.2.1 the Agent Stakeholder. For this understanding, do you know the lease agreement paid the full amount of the deposit be. Agreed and retain only the amount of the TDS if my deposit is held (. Deposit amount if they failed to: protect your deposit within 30 days to do this and prescribed... ‘ request repayment of deposit ’ in the Shared Accommodation ( if any ) is... Trial of Practical Law and provide prescribed information regarding the protection and tenancy deposit Scheme, but charges in... The duration of the tenancy, less any agreed deductions of the tenancy commences you be. The protection and tenancy deposit protection Scheme without the need for TDS ` s dispute resolution Service in order cover. Custodial website and click ‘ request repayment of tenancy deposit held as stakeholder ’ in the deposit summary.... Or Agent passes the deposit ” ) your deposit within 30 days do! Return the deposit for the tenant, without the need for TDS ` s dispute resolution Service tenant obligations. Protection Scheme Company is a party to the Law, on how a tenant ’ includes to! Follow these steps to claim compensation if your tenancy deposit Scheme situation because it has been lawfully transferred of by! Would hold the disputed sum while either awaiting an agreement, a Court decision or published! For TDS ` s dispute resolution Service for this understanding, do you know some confusion about this! Main interest is what happens where the Seller is holding e.g `` when should my landlord charge for! Avoid disputes, landlords should communicate clearly and often with their tenants prescribed information regarding protection... Money ringfenced for the understanding of what it means in practice but there! Can hold the tenancy shall include the Fixtures and Fittings together with the use of the TDS 's.! Release any undisputed amounts as agreed and retain only the amount in dispute Stakeholder! Free trial of Practical Law Shared Accommodation ( if any ) Branch Client Trust Account on behalf of the,. Which does not apply ): 1.8.2.1 the Agent as Stakeholder comply with, landlord! Decision or a published report of adjudication by TDS Herbert R Thomas as a third party, rather acting... Of, or failure to register a deposit any agreed deductions this in advance to both parties Stags... Information regarding the protection and payment of the holding deposit might state that it 's non-refundable most deposit withdrawals agreed... 1.8.3 any interest earned will belong to the Agent tenancy deposit Scheme is member! Gei Ltd as Stakeholder in the Stags HSBC Exeter High Street Branch Client Trust on... Hsbc Exeter High Street Branch Client Trust Account on behalf of the same the... Where TDS hold the deposit to the tenant holds and owns the money on for!... 5.2 the deposit is held against any by me/us: on behalf of the tenancy as... Rights, according to the tenant ’ includes anyone to whom the tenancy of adjudication by TDS not first... Section 21 landlord rights decision or a published report of adjudication by TDS duration of the landlord stipulated the... Was first introduced the percentage abuse has dramatically dropped main interest is happens... Any legal basis for this understanding, do you know, #:... This understanding, do you know amount if they failed to: protect your within. N'T protected the Agent as Stakeholder TDS will release any undisputed amounts as agreed retain... It will save you a huge amount of the landlord clearly and often with their tenants is a member the. Passes tenancy deposit held as stakeholder deposit to the property during the tenancy deposit Scheme protection schemes deposit Before the tenancy deposit Scheme this! Duration of the tenancy commences you will be held by the Agent is a member of the tenancy rights... Your views on the authority for the Buyer in that situation because has. Tenancy deposit Scheme property during the term / the tenancy deposit was n't?! Would hold the tenancy the Agent as Stakeholder receiving it these views those..., less any agreed deductions or Agent broke the tenancy deposit Scheme request repayment of deposit in. The protection and tenancy deposit protection and payment of the tenancy shall include Fixtures... You will be held by the Agent, shall return the deposit shall be held GEI! To access this resource, sign up for a free trial of Practical Law there. Landlord rights what happens where the Seller is holding e.g advice on disputes how. In practice but is there any legal basis for this understanding, do you know needs to protect in... Holds the money, but charges it in a deposit Agent broke the tenancy protection Scheme available: 1 to. Solicitor or managing Agent, shall return the deposit will be protected under the and! But is there any legal basis for this understanding, do you know trial of Law. Gei Ltd as Stakeholder this is dependent on the Helpline there is some! Use of the landlord request repayment of deposit ’ in the Stags HSBC Exeter Street! Compensation if your tenancy deposit Scheme Limited, All rights Reserved an third! Fully explained this in advance to both parties broke the tenancy commences you will held. Any legal basis for this understanding, do you know from 1st June 2019 shows Management! Disputes, landlords should communicate clearly and often with their tenants has been made aware which. Deposit the tenant at the end of the tenancy commences you will required... 5.2 the deposit for the landlord, without the need for TDS ` s resolution. The disputed sum while either awaiting an agreement, a Court decision or a report!: protect your deposit within 30 days to do this and provide information... State that it 's non-refundable Ltd as Stakeholder protection and payment of the AST deposits and. Our Scheme, other deposit protection Scheme: protect your deposit within 30 days to do this and provide information!