Financial
Tenancy Deposit Protection
A legal requirement for landlords to protect tenancy deposits in a government-approved scheme within 30 days. Three approved schemes: DPS (custodial), MyDeposits (custodial/insured), and TDS (custodial/insured). Prescribed information about the protection must be served to the tenant. Failure to comply can result in penalties of 1-3 times the deposit amount.
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