DPS – Prescribed Information
When your tenant provides a rental deposit, you need to protect it by paying it to a tenancy deposit scheme (TDS), or custodial scheme, like that offered by the Deposit Protection Service (DPS).
But your obligations don’t end with protecting the deposit money. After that, you need to serve the Prescribed Information to your tenants within 30 days of you or your agent receiving the sum.
It’s a legal requirement to protect tenancy deposits with a TDS custodial scheme. If you don’t, any section 21 notices you serve later will be invalid, and you could be sued.
Read below to find out more about Prescribed Information and what you need to do to comply with the law.
What is the Prescribed Information?
Prescribed Information is a set of details relating to a tenancy and a tenant’s deposit. This is legally required to be provided within 30 days of a landlord or agent receiving a deposit in England and Wales. The information is:
- The amount of the deposit
- The property address
- The name, address, and contact details of the tenancy deposit scheme administrator with which the deposit is held
- The name, address, and contact details of the tenants, the landlord, and any third parties who contributed to the deposit
This information can be presented either through a downloadable form or through a Prescribed Information template supplied by your chosen protection scheme.
Alongside the Prescribed Information, you’re also obliged to provide your tenants with a copy of their tenancy deposit protection certificate or receipt plus the deposit protection scheme leaflet.
Be sure to read the terms and conditions of your tenancy deposit scheme carefully, as these can differ between services.
Regardless of the tenancy deposit scheme (TDS) that you use, you must return the agreed amount of the deposit money to your tenants within 10 days of the end of the tenancy. If there is a dispute, the money will be held by the TDS until it is resolved.
Where Can I Get the Prescribed Information Form?
When you protect a deposit by submitting it to the Deposit Protection Service online, you’ll be provided with a copy of the Prescribed Information form.
You can also download a Prescribed Information template form and Insured Prescribed Information form from the Deposit Protection Service website.
Who Should the Prescribed Information be Served to?
The Prescribed Information must be served to the tenants of any rental property in England and Wales. As part of a tenancy agreement, since the 6th April 2007, it’s the law that all tenancy deposits must be protected by a custodial scheme.
When Should I Serve the Prescribed Information?
Prescribed Information, and additional details like a tenancy deposit scheme leaflet, must legally be served to the tenants of your rental property within 30 days of you receiving their deposit.
Call Helix Law
Need help understanding your obligations around Prescribed Information, how to fill out a Prescribed Information template, terms and conditions of tenancy deposit protection schemes, or anything else relating to private renting laws? Helix Law is happy to help.
Contact our experienced solicitors by emailing us at [email protected] or calling 0345 314 2044.