Tenancy Deposit Scheme

At Mid-Ulster Letting & Sales we use My Deposits NI which is a company that protects tenancy deposits for private tenancies. This is extremely useful in the event of an end of tenancy deposit dispute.

Tenants

What is Tenancy Deposit Protection?

As of 1st of April it is a legal requirement that all landlords must protect all tenancy deposits due to the Tenancy Deposit Protection Regulations. This means that landlords legally have to protect deposits within 14 days of receiving it and provide tenants within 28 days of the deposit certificate.

We protect our deposits with MyDepositsNI, we will provide you with a certificate and reference number.

Landlords

What do you need to do?

If you are a landlord who takes a deposit ona private tenancy on or after 1st of April 2013, then you legally have to protect the deposit within 14 days of receiving it.

Landlords can protect deposits in two ways, Custodial or Insured. It is up to you what way you would like to protect it.

For more information on the MyDepositsNI scheme please visit their website.

Security Deposits

MULS transfer the full Security Deposit to the landlord in all instances - for both Property Management and Let Only Services.

We do not take responsibility for lodging the deposit with any Deposit Scheme and advise our landlords on the two methods of protecting the deposit - insured or custodial.

We provide the landlord with the tenant's details and all associated documentation will be provided to the tenant by the landlord.

Please note that each tenancy may vary - this guide is only offered as a generic template of the rental process.

Tenancy Deposit Scheme

Tenants

Landlords

Security Deposits

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