Client Money Protection
If you are renting and your landlord has requested you pay a deposit, in law, your deposit must be protected.
A Tenancy deposit is money paid by the tenant to the landlord as security in case the tenant does not meet their responsibilities in the tenancy agreement.
A deposit should be paid back to the tenant when the tenancy ends, unless the landlord has to withhold part or all of the deposit, for things like –
• Unpaid rent
By protecting the deposit, the money is held independently, in a Government approved scheme. Foundation Living uses The Tenancy Deposit Scheme (TDS).
If there is a dispute about whether the deposit should be repaid in full, TDS will appoint an impartial Adjudicator to look at the issues raised and make a legally binding decision.
At the start of the Tenancy, you will be provided with all the ‘prescribed information’ you need about TDS and how to challenge a decision at the end of a Tenancy.