Tenancy Deposit Scheme

Since 6th April new rules apply to the holding of tenants' deposits (also known as bonds). We use an insured scheme run by The Dispute Service. Essentially this means that a proper procedure of settling disputes between landlord and tenant must be followed before a deduction can be made from the deposit. Although the actual deposit is held by Herts Lettings, we hold it purely as a stakeholder, on behalf of the landlord, until such a time that the landlord and tenant come to an agreement about the condition of the rented property and how much (if any) of the deposit must be retained to pay for work to restore the property to its condition at the beginning of the tenancy.

A leaflet explaining this scheme is attached to this post. A copy of this is given to every new tenant. It can also be downloaded direct from The Dispute Service's own website

Note that we cannot hold deposits on behalf of let-only landlords. However we can offer a low-cost rent-collection-only scheme that may be more cost effective than registering with one of the insured or or custodial schemes. Please call us for a quote.