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Money Talk: “My landlord didn’t secure my security deposit – am I entitled to compensation?”

MONEY TALK

In the latest in our Money Talk series, we look at Rental Deposit Protection (TDP) schemes and explain why your landlord could owe you hundreds of pounds if they don’t use one

Landlords are obliged to pay their deposit into a rental deposit guarantee
Landlords are obliged to pay their deposit into a rental deposit guarantee

If you’re a renter, you’ve most likely paid a tidy sum of money as a deposit to move into your new home.

Once you’ve transferred the money, it’s up to your landlord to transfer your security deposit to a government-backed scheme.

These are known as Rental Deposit Guarantee Schemes (TDP) and if your landlord doesn’t use one they could end up owing you hundreds of pounds.

TDP programs apply if you are enrolled in an insured short term rental that began after April 6, 2007.

The idea is that they protect landlords from unfairly keeping their tenants’ cash if they haven’t damaged their property and paid their bills.

Your security deposit must be deposited in a registered system within 30 days of your landlord receiving it.

Have a nightmarish rental experience you want to share? Let us know: mirror.money.saving@mirror.co.uk

Stuart Miles, an associate on Hodge Jones & Allen’s dispute resolution team, explained how the tenant could take his landlord to court if he doesn’t protect his deposit.

He said: “You could be ordered by the court to return the deposit to the tenant and pay the tenant up to three times the deposit in compensation.

“It may also void any Section 21 notice served on the tenant, making it less easy for a landlord to regain ownership of the property through no-fault evictions.”

If you suspect your landlord hasn’t protected your security deposit, the first thing you should do is talk to them.

You could even work with a mediator to try to resolve the matter.

“If this is successful, you can save yourself a lot of time and money that could accumulate if you took the matter to court,” said Aemilia Duberry, commercial paralegal at Atkins Dello.

“If you cannot come to an agreement with your landlord, you can apply to your district court for damages.

“To address the court you need to fill in form N208, which can be found on the government website and there is a court fee of £308 to pay.

“You can reclaim this from your landlord if you are successful.”

For more information on seeking legal advice and information, go to gov.uk Website. Again, legal action should be the last resort.

The registered TDP systems in England and Wales are:

There are separate TDP schemes in Scotland and Northern Ireland.

If you have paid a deposit for a lease that you have yet to sign, it does not need to be linked to a TDP system.

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https://www.mirror.co.uk/money/money-talk-my-landlord-didnt-27169682 Money Talk: "My landlord didn't secure my security deposit - am I entitled to compensation?"

Fry Electronics Team

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