Prescribed Information about Deposit Protection
This Prescribed Information about Deposit Protection template should be used by the Landlord to tell the Tenant about the approved Tenancy Deposit Scheme which the Landlord is using to protect the Tenant’s Deposit.
Deposits relating to Assured Shorthold Tenancies (effectively most short-term residential tenancies) must be protected in an approved Tenancy Deposit Scheme in accordance with sections 212-215 and Schedule 10 of the Housing Act 2004. The Guidance on Tenancy Deposit Protection for Assured Shorthold Tenants provides further information.
Under the Tenant Fees Act 2019, from the 01 June 2019, security deposits for new or renewed tenancies in England must be capped at five weeks' rent if the yearly rent is under £50,000 or six weeks' rent if the yearly rent is £50,000 or more.
Security deposits for tenancies in Wales are not currently capped but the Renting Homes (Fees etc.) (Wales) Act 2019 (due to come into force 01 September 2019) gives the Welsh government the power to introduce caps in the future.
This template reflects the legislative changes made in 2015 affecting Tenancy Deposit Protection. The form allows the Landlord’s Letting Agent’s contact details to be given instead of the Landlord’s own details.
Once the Deposit has been protected in a Tenancy Deposit Scheme the Landlord (or the Landlord’s Agent) should complete this Prescribed Information about Deposit Protection template and give it to the Tenant. This must be done within 30 days of receiving the Deposit.
Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.
This Receipt for Tenancy Deposit is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
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