Welcome to our sister company mydeposits Northern Ireland, a Government licensed Tenancy Deposit Scheme.
Since 1 April 2013 all landlords and letting agents in Northern Ireland must protect tenancy deposits with a licensed scheme, such as mydeposits Northern Ireland.
What is a tenancy deposit scheme?
It's normal practice for a landlord or letting agent to take a deposit from their tenant as security should the tenant not meet their obligations in connection with a tenancy agreement
A Tenancy Deposit Scheme is an independent third party that has been approved by the Department for Social Development (DSD) to protect tenant's deposits.
The legislation is designed to safeguard the tenant's deposit and ensure they get it back at the end of the tenancy, provided they have met the terms of their agreement. Both landlord or agent and the tenant have access to a free and impartial dispute resolution mechanism if they are unable to agree how much deposit should be returned at the end of the tenancy.
Landlords and agents must:
Protect the tenant's deposit with a government licensed tenancy deposit scheme within 14 days of receiving the deposit.
Provide the tenant with key information about the protection within 28 days from receipt of the deposit.
There are penalties for landlords and agents who fail to comply.
About my|deposits Northern Ireland
my|deposits Northern Ireland is brought to you by the my|deposits group.
Since 2007, my|deposits.co.uk has run an insurance based tenancy deposit protection scheme in England and Wales. It is the preferred scheme for over 100,000 members, including the largest letting agents in the country.
In July 2012 my|deposits Scotland launched a custodial tenancy deposit scheme for landlords and agents in Scotland and to date we have safeguarded thousands of deposits.
The new legislation may seem complicated at first, which is why we are here to support you. We will ensure that you are able to protect tenancy deposits quickly and securely and comply with the legislation without complication.
Visit www.mydepositsni.co.uk to see how we can support you.