In April 2007 the Tenancy Deposit Protection Scheme (TDPS) came into effect. The aim of this scheme is to protect a tenant from a relatively small number of Landlords and Letting agents who unfairly try to withhold the deposit or bond they have to pay when renting a home.
The Tenancy Deposit Protection Scheme means that in most cases where property is let the deposit must be controlled by an independent third party, rather than the Landlord or agent, who also returns it less any fair damages at the end of the tenancy.
With the introduction of the Tenancy Deposit Protection Scheme, where tenants’ deposits or bonds must be safeguarded by government authorized schemes, it is increasingly important to have an accurate written record of the contents and condition of a property.
The use of inventories can significantly reduce the risk of a dispute at the end of a tenancy, and where disputes do arise, provide evidence to make resolving it much easier, either through the scheme itself or in court if necessary.