Tenancy Deposit Scheme
Tenancy deposit protection became a legal requirement in Northern Ireland on 1 April 2013.
The legislation requiring protection of deposits is called The Tenancy Deposit Schemes Regulations (Northern Ireland) 2012.
What must I do to comply with deposit protection law?
A tenancy deposit paid on or after 1 April 2013 for a private tenancy must be protected with an approved tenancy deposit protection scheme. The deposit holder must:
- Register the deposit with an approved scheme within 14 days of receiving the deposit;
- Serve Prescribed Information on the tenant(s)
TDS Northern Ireland will give you the Prescribed Information and the scheme leaflet when the deposit registration has been confirmed.It is your responsibility to ensure that the tenants receive it.
Which deposits must be protected?
The regulations require that where a tenancy deposit is paid on or after 1 April 2013 for a private tenancy the deposit must be protected with an approved tenancy deposit protection scheme.
There are some private tenancies which are not covered by the regulations and these are:
- A fee farm grant;
- A tenancy for a term certain exceeding 99 years, unless that tenancy is, or may become, terminable before the end of that term by notice given to the tenant;
- A tenancy the purpose of which is to confer on the tenant the right to occupy a dwelling-house for a holiday.
- A tenancy under which the estate of the landlord belongs to