Tenancy deposit scheme (England and Wales)
Some unscrupulous landlords are either very slow to return deposits at the end of the tenancy or make unfair deductions.[3] The tenant pays over the deposit (commonly one month's rent) in the usual way when the tenancy agreement is signed.The landlord or letting agency has 30 days from receipt of the deposit to provide the tenant with details of the scheme that they are using (known as the prescribed information).If at the end of the tenancy the landlord does not release the deposit, the insurance will pay back the tenant.If a landlord or letting agent does not both protect a tenant's depositt and provide the tenant with the prescribed information within 30 days then they are prevented from regaining possession of the property under a Section 21 notice under the Housing Act 1988, unless the deposit is first repaid or proceedings for a penalty against the landlord, or its agent, has been initiated and settled.