Tenancy deposit protection (TDP) schemes guarantee that tenants will get their deposits back at the end of the tenancy, if they meet the terms of the tenancy agreement and do not damage the property. Landlords must protect their tenants' deposits using a TDP scheme if they have let the property on an assured shorthold tenancy (AST) which started after 6 April 2007.
There are 3 government-approved TDP schemes. The Deposit Protection Service (The DPS) is open to all landlords and letting agents, and is the only scheme that is free to use. |