Since April 2007 any deposit taken from a tenant on an Assured Shorthold Tenancy (AST) in England and Wales, must be protected in a government-authorised deposit protection scheme within 14 days of receiving the deposit. There are three different schemes available to landlords and agents, shown below.

The Deposit Protection Service (The DPS) is the only custodial deposit protection scheme the scheme is free to use and open to all Landlords and Letting Agents. The service is funded entirely from the interest earned from deposits held. For more information, visit www.depositprotection.com or call 0844 4727 000

My Deposits is an insurance based tenancy deposit protection scheme which enables landlords or their agents to hold deposits. The fee for landlords  joining this scheme is £58.75 joining fee and £17.12 per deposit protected by the deposit protection scheme plus  an annual membership renewal fee of £14.70 For more information, visit www.mydeposits.co.uk or call 0844 980 0290

The Dispute Service (TDS) is an insurance-backed deposit protection and dispute resolution scheme. The scheme enables letting agents and corporate landlords to hold their deposits. For more information, visit www.tds.gd.com or call 0845 226 7837.

Since the introduction of the scheme it is now imperative that landlords have a professional inventory that details the fixtures and fittings of a property and their conditions, as well as the more general condition of the property itself. The inventory will be used as evidence, should a dispute over damages or cleaning arise at the end of the tenancy agreement, by an independent adjudicator. Without an inventory the landlord effectively has no evidence to support his/her claim. The inventory will also protect the tenant against unjustifiable claims from landlords.

David Andrew use Laversons to prepare our inventories, the prices are shown below. Laversons can be contacted via email @ info@laversons.co.uk or called on 0207 561 3409.

Studio £90.00
1 Bedroom - 1 Reception £110.00
1 Bedroom -1 Reception  £120.00
2 Bedroom -1 Reception  £120.00
2 Bedroom -1 Reception  £130.00
3 Bedroom -1 Reception  £140.00
3 Bedroom -1 Reception  £150.00
4 Bedroom -1 Reception  £160.00