How do I protect a tenancy deposit?
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Transcript
How do I protect a tenancy deposit? Put the deposit in a government-approved scheme within 30 days of receiving it, and give your tenant the prescribed information in the same 30 days. Since 1 May 2026 this covers assured tenancies in England. 30 days from the day you receive it. Within the same 30 days you must also give the tenant, and anyone who paid the deposit for them, the prescribed information about the scheme. The Deposit Protection Service, MyDeposits and the Tenancy Deposit Scheme. Each offers a custodial option, where the scheme holds the money for free, and an insured option, where you or your agent hold it and pay the scheme to insure it. 5 weeks' rent if the annual rent is under £50,000, or 6 weeks' rent if it is £50,000 or more. One week's rent is the annual rent divided by 52. Read the full answer, with every source, at rightotax.co.uk.
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Read the full answer, with every source
The one-minute version
Transcript
How do I protect a tenancy deposit? Put the deposit in a government-approved scheme within 30 days of receiving it, and give your tenant the prescribed information in the same 30 days. Since 1 May 2026 this covers assured tenancies in England. 30 days from the day you receive it. Within the same 30 days you must also give the tenant, and anyone who paid the deposit for them, the prescribed information about the scheme. Read the full answer, with every source, at rightotax.co.uk.
Voice and visuals made with automated software, including AI.
This is general information to help you understand the rules. It isn't tailored to your circumstances, so check your own position before acting on it.
Righto Landlord is a trading name of NJG Consultancy Ltd, registered in England and Wales, company number 16095900. Registered office: Jubilee House, East Beach, Lytham St Annes, FY8 5FT.