It may surprise you to know that anyone can set up a lettings agency – you don’t need a licence or a qualification. So it's essential to make sure your deposit money is put into safe hands and will be properly protected.

Since April 2007, if you rent your home on a shorthold tenancy your landlord must put your deposit in a Government-backed tenancy deposit scheme within 30 days of receiving it. In England and Wales your deposit can be registered with Deposit Protection Service, MyDeposits or the Tenancy Deposit Scheme. Landlords must also provide you with critical information about your deposit along with the registration certificate.

You should get your deposit back within 10 days of you and your landlord agreeing how much is due, as long as you meet the terms of your tenancy agreement, don’t damage the property and pay your rent and bills.

The schemes safeguard millions of deposits and are completely independent of the agents and landlords who use them so will be totally fair when adjudicating any deposit disputes. If you’re in a dispute with your landlord, your deposit will remain protected in the scheme until the issue is sorted out, providing you refer any dispute within three months of the end of your tenancy.

You should always chose an agent that is a member of ARLA Propertymark, RICS or NALS, indicated by one of the following logos:

It’s not your responsibility to put your deposit money in a scheme but by choosing an accredited agent your money will be protected.

Members must comply with a code of practice, by-laws for professional standards and best practices. You can have peace of mind knowing that your agent will follow strict procedures when dealing with your whole tenant journey, including looking after your money and handling complaints.

Further information

Contact Savills Letting Services or search for property to rent