Keeping You Informed: NI Tenancy Deposit Scheme

Quicklet in Belfast, Lisburn, Lurgan & Edinburgh

27th June 2024

We like to bring valuable insights to our website readers by passing on some of our expertise in the industry. In this post, we are explaining the Tenancy Deposit Scheme, so that landlords and tenants alike know the benefits of the scheme. 

What is the Tenancy Deposit Scheme?

The Tenancy Deposit Scheme (TDS) in Northern Ireland makes sure a tenant's deposit is safe when they rent a home.

How does it work?

When the tenant pays their landlord a deposit, the landlord must put it in a special government-approved account within 14 days. This protects the money and guarantees they get it back when you move out, as long as they’ve paid their rent in full and haven’t damaged the property.

What about disputes between landlord and tenant?

If there are any arguments about the deposit, the TDS offers a free service to help sort things out fairly.

Is this something that Quicklet can take care of on behalf of landlords?

Sorting out the Tenancy Deposit Scheme for our clients is one of the tasks Quicklet can take on as part of managing your property. No lengthy phone calls, no letters to respond to, no back and forths; Quicklet will arrange it for you as part of our service. Why DIY when we can do it for you?

Get in touch now for more info!