Why would I use this document?
Under the Tenancy Deposit Scheme Regulations, the law provides for the swift return of a tenancy deposit to the tenant at the end of the tenancy. To facilitate this, landlords must nominate a ‘deposit’ scheme’ in order to retain the deposit safely.
Under the Regulations, before the expiry of 14 days from signing the tenancy agreement, certain details must be provided to the tenant about the scheme. This document contains all those details in one place.
We suggest you read our free information page on tenancy deposit schemes.
When to use:
- if you are a tenant or a landlord;
- use with all types of tenancy agreement, leases and licenses.
- as an addition to an existing tenancy agreement where you have decided to use the new scheme rules as a safeguard;
- in addition to a new tenancy agreement – this is required by law.
PR505 includes the following:
- the name of the deposit scheme being used
- details of the deposit scheme
- landlord’s details
- how to apply for the release of the deposit
- the purpose of the deposit
- what to do if there is a dispute
Contract law can be a particularly complicated area of law. We will gladly help whether you are a tenant or landlord. Just send us a message.
