Since 6th April 2007, it has become a legal requirement that all landlords protect the deposits of their tenants. This legislation was introduced by the government, as an addition to the Housing Act of 2004, to protect tenants from landlords unfairly withholding deposits from them at the end of their tenancies.
Niche Homes Ltd registers all its tenants deposits with the Deposit Protection Service (DPS) custodial scheme*. For more information, please refer to the documents below, and to the DPS website at www.depositprotection.com
*NB – All reservation forms need to be submitted with a £335 Reservation Fee. £85 of this is a non-refundable administration fee. Once this has been processed, you will be sent an AST (Assured Shorthold Tenancy) agreement for your tenancy. This needs to be signed and returned within 14 days of it’s receipt. Once this is returned, the remaining £250 of your reservation fee will be registered with the DPS as your security deposit. Your deposit will be released to you at the end of your tenancy period. Your deposit will not be returned as per 3.3 of the code. Please note – your deposit is only registered once we have received your signed AST agreement. If you cancel your reservation after the first 14 days, and before returning your signed AST agreement, the full Reservation Fee of £335 is non-refundable. If you wish to cancel your agreement after signing your AST, you will be liable for all rents unpaid, unless you find someone to take over your tenancy – in this instance, please refer to section 6.2, page 13, of your AST agreement for the full terms and conditions. An example AST can be found in the ‘Useful Documents’ page on our website, for your reference.