Tenancy deposit protection (TDP) legislation has been introduced by the States of Jersey to protect tenants’ deposits. We’ve received a few questions on how we, in turn, keep the deposit money safe whilst we’re holding it, and also what happens to the interest generated by the deposit.
Firstly, mydeposits had to undertake a detailed tender process, which placed a major emphasis on demonstrating our sound financial standing to the States of Jersey.
How we hold the dep...Read more
Landlords and letting agents are being urged to prepare for the arrival of tenancy deposit protection on 2 November 2015.
The scheme administrator, mydeposits Jersey, who signed contracts with the States of Jersey on the 17 September have invited landlords and letting agents to join the scheme early from 1 October, and have also announced a series of free workshops in October in the build-up to the go live date.
Eddie Hooker, CEO of mydeposits Jersey commented:
“From...Read more
The Jersey Government has today signed contracts with tenancy deposit protection (TDP) scheme mydeposits Jersey to protect tenants' deposits from being unfairly withheld at the end of the tenancy.
The new scheme which begins on the 2nd November 2015, will mean that landlords and agents in Jersey will now have to protect their tenants' deposits with mydeposits within 30 days of receiving it or risk financial penalties of up to £2000.
It's expected that the introd...Read more
Tenancy deposit protection (TDP) legislation goes live on 2 November in Jersey. Here's a quick overview of what it means for tenants, landlords and letting agents and how it will help to improve the private rented sector in Jersey.
What is tenancy deposit protection?
Tenancy Deposit Protection has been introduced to:
