Under the provisions of the UK Housing Act 2004, any landlord or agent who takes a deposit from a tenant for an assured shorthold tenancy after April 2007, must register the deposit with a Government approved tenancy deposit protection scheme. As per the regulations, the landlord or agent must also serve all the required documentation to the tenant and anyone who has contributed towards the deposit.
Landlords who fail to protect the deposit within 30 days of receipt may risk fines of three times the amount of the deposit and cannot serve a Section 21 notice of eviction.
DepositGuard is an exclusive service for members of the RLA.
DepositGuard can only be used by landlords wanting to protect deposits for properties they own and manage themselves. The scheme is not available to letting and managing agents.
For more information, please read TDS' rules of membership
Yes, as DepositGuard is administrated by TDS (Tenancy Deposit Scheme) an insurance based scheme, you will keep hold of the deposit; giving you greater control of the tenancy as well as avoiding any unnecessary delay with returning the deposit at the end of the tenancy.
It is free for RLA members to register with DepositGuard.
Want to use DepositGuard? Click here to join the RLA today.
DepositGuard offers the industry's lowest deposit protection fees on the market.
For a deposit value up to £500 = £13.20
For a deposit value over £500 = £17.95
From registering a deposit to ending a tenancy, each stage of managing a deposit is completed online. Check out the RLA's step-by-step user guide on how to use DepositGuard.
If you have another landlord associated with your membership who wishes to use DepositGuard (either in their own name or the company name), please ensure that person logs into the RLA website using their own login details.
If you have not yet set up any associated landlords on your membership, you can add them on your profile page under myRLA.
It is a legal requirement to give tenants information on where their deposit is protected. Once you have protected the deposit, you should give the tenant and anyone who has contributed towards the deposit the following documents:
Using DepositGuard means that your tenancy is protected throughout its life - including when it continues onto a same terms statutory periodic tenancy - and at no extra cost.
After recent changes to legislation, provided no details have changed when the tenancy becomes periodic, then there should be no need to serve any further prescribed information. If details have changed however, please read our guidance on prescribed information.
If your tenancy ends in a dispute, you must declare a dispute when you end the protection of the deposit online. If you need guidance, please follow the step-by-step guide user guide.
TDS requires that you submit all relevant documentation as evidence along with the TDS Dispute Application form for an adjudicator to review the tenancy (you must do this within 3 months of the tenancy ending).
Whether there is a change to the tenancy during the agreement, or you are seeking advice on additional clauses, please call the RLA's Advisors on 03330 142 998.