Students urged to ensure deposit is protected

mydeposits.co.uk, a Government-approved tenancy deposit protection scheme, is strongly urging students to ensure this year's deposit is properly protected.

With the new university year about to start, students in England and Wales should make sure their landlord is playing by the rules and has protected their deposit in a Government-approved scheme. Landlords are responsible for obtaining a confirmation of protection within 14 days and will be fined by the courts if they fail to do so.

mydeposits.co.uk, now in operation for 16 months and protecting over 200,000 deposits, offers peace of mind to tenants, landlords and letting agents by offering a free and impartial dispute resolution service if there is a disagreement over how much of the deposit should be returned at the end of the tenancy.

It is also the only scheme specifically designed to enable landlords to hold onto tenancy deposits throughout the tenancy and offers a simple ‘pay-as-you-go' format with only modest fees.

David Salusbury, Chairman, mydeposits.co.uk, is very keen to make sure students know what to expect. He said: "Now is a busy time of year as students prepare for the new academic year. It is important for students to ask their new landlord where their cash is and with whom it is being protected. The overwhelming majority of tenancies have always ended amicably but mandatory tenancy deposit protection is now just part and parcel of a landlord's legal responsibilities.

"Although the onus is on landlords to comply with the rules, tenants should make sure their deposit is protected and should ask their landlords if they don't receive confirmation within 14 days."

Students can find out if their deposit has been protected with mydeposits.co.uk by visiting the website or contacting our Customer Service Centre on 0871 703 0552.