Deposits

Japan Services Rent Ltd. use the Deposit Protection Service (DPS) Custodial Scheme to register tenancy deposits. This is one of three deposit protection schemes recognised by the government - the others being the Tenancy Deposit Scheme (TDS); and My Deposits.

Being a custodial scheme means that all deposits registered with this DPS scheme are held directly by the DPS for the duration of the tenancy.

See the DPS website here for further information: https://www.depositprotection.com/tenants/starting-a-tenancy/what-is-deposit-protection

LEGAL BACKGROUND TO DEPOSIT PROTECTION

Legally, an eligible deposit must be registered with the DPS or other Scheme within 30 days of receipt, and the tenant issued with the Scheme's Prescribed Information (setting out details of the property and deposit, details of the parties, how the scheme operates, and how the tenant's deposit will be protected) within the same period. FAQs on Prescribed Information can be found here: https://www.depositprotection.com/agents-landlords/starting-a-tenancy/prescribed-information

Tenants wishing to check if their deposit is protected with the DPS Custodial Scheme can use the DPS checking service here: https://myaccount.depositprotection.com/#tenancy/checkDepositStatus

Use of a deposit protection scheme is a legal requirement for all Assured Shorthold Tenancy deposits. This legal requirement was introduced by the Housing Act 2004, and subsequently came into force in 2007. The requirements for deposit protection have since been updated by various legislation, including the Deregulation Act 2015.