Tenants Deposit Protection Scheme (TDPS)
Introduction: The TDPS has been introduced to ensure good practice in deposit handling, so that when a tenant pays a deposit, and is entitled to get it back, they can be assured that this will happen and to assist with the resolution of disputes by having an Alternative Dispute Resolution service (ADR). It will also encourage tenants and landlords to have in place, from the outset, clear agreement on the condition of the property through best practice, such as the use of inventories, and agreement on the condition of the property.
Your Security Deposit will be lodged within 14 days of receipt with The Deposit Protection Service (The DPS) of which Nurture Property Asset Management is a registered member. Your Deposit ID number will be issued on acceptance of tenancy and receipt of your Security Deposit.
Scheme Administrator:
The Deposit Protection Service
The Pavilions, Bridgwater Road, Bristol, BS99 6AA.
Tel: 0870 7071 707
Repayment: The completion of a Joint Repayment Form initiated by either the Landlord or the Tenant will commence the repayment procedures. Agreed repayments are when all Parties agree on who should receive the Deposit at end of the Tenancy. No disputed amount exists. (See Disputes below). Repayment of all or part of the Deposit will be made either via direct BACS transfer to the Landlord’s and/or Tenant(s)’ accounts, sterling cheque or a combination of the two methods in accordance with the Joint Repayment Form. All payments will be released within 10 calendar days of processing a Joint Repayment Form. Interest will be paid for the period commencing 10 calendar days following receipt of the Deposit up to close of business the day before the repayment is successfully processed.
Disputes: Disputed repayments are when the Parties cannot agree on the repayment of the Deposit at the end of the Tenancy. A disputed amount can be all or some of the Deposit. In the event that all or part of the Deposit due for return cannot be agreed a Party may initiate the ADR Procedure in accordance with the ADR Rules within 20 Business Days of the end of the Tenancy.
Further Details: Should you require any further information the Terms & Conditions and ADR Rules governing the protection of the deposit including the repayment process can be found at: www.depositprotection.com.
Your Security Deposit will be lodged within 14 days of receipt with The Deposit Protection Service (The DPS) of which Nurture Property Asset Management is a registered member. Your Deposit ID number will be issued on acceptance of tenancy and receipt of your Security Deposit.
Scheme Administrator:
The Deposit Protection Service
The Pavilions, Bridgwater Road, Bristol, BS99 6AA.
Tel: 0870 7071 707
Repayment: The completion of a Joint Repayment Form initiated by either the Landlord or the Tenant will commence the repayment procedures. Agreed repayments are when all Parties agree on who should receive the Deposit at end of the Tenancy. No disputed amount exists. (See Disputes below). Repayment of all or part of the Deposit will be made either via direct BACS transfer to the Landlord’s and/or Tenant(s)’ accounts, sterling cheque or a combination of the two methods in accordance with the Joint Repayment Form. All payments will be released within 10 calendar days of processing a Joint Repayment Form. Interest will be paid for the period commencing 10 calendar days following receipt of the Deposit up to close of business the day before the repayment is successfully processed.
Disputes: Disputed repayments are when the Parties cannot agree on the repayment of the Deposit at the end of the Tenancy. A disputed amount can be all or some of the Deposit. In the event that all or part of the Deposit due for return cannot be agreed a Party may initiate the ADR Procedure in accordance with the ADR Rules within 20 Business Days of the end of the Tenancy.
Further Details: Should you require any further information the Terms & Conditions and ADR Rules governing the protection of the deposit including the repayment process can be found at: www.depositprotection.com.
