Custodial scheme

Any deposits taken on or after 1 April 2013 must be registered with an authorised Tenancy Deposit Protection Scheme administrator. Deposits taken before that date don't need to be registered with one of these schemes.

The custodial scheme is free for both landlords and tenants to use. There are strict time limits within which you must give the scheme administrator the deposit and a list of prescribed information. You must also provide the tenant with a list of required information within a set time limit. Failing to protect the deposit or provide the current information can lead to a fixed penalty or prosecution. Find out more about the requirements of the Custodial Scheme.

If, at the end of the tenancy, you and your tenants are unable to agree on how to refund the deposit you will be referred by the scheme administrator to a Dispute Resolution Service. The adjudicator will look at the evidence and decide how the money should be returned. Find out more about adjudication and how to avoid disputes.

The custodial scheme is free for both landlords and tenants to use. There are strict time limits within which you must give the scheme administrator the deposit and a list of prescribed information. You must also provide the tenant with a list of required information within a set time limit. Failing to protect the deposit or provide the current information can lead to a fixed penalty or prosecution. Find out more about the requirements of the Custodial Scheme.