DPS open to all landlords

Note - the Landlord Law Blog has now moved to www.landlordlawblog.co.uk.

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Having seen comments on forums about the Deposit Protection Service refusing to accept deposits from landlords, for example if the money is paid over more than 14 days after it is paid to them (putting them in default of the scheme, unable to evict tenants under s21, and vulnerable to being sued for the ‘fine’ of 3 x the deposit sum), I thought I had better check this out with the company itself.

However I am pleased to confirm that the rumour is incorrect, and that there are no rules preventing landlords from being able to protect deposits, with the DPS as any rate (things are different with the other two schemes).

Or to quote my DPS contact:

"We accept deposits at anytime, there is no validation on the system preventing payment. We issue reminders if payment is not received within four weeks but that's as far as our enforcement remit allows. We are the default scheme open and inclusive to all."

Note however that the fact that the DPS will accept deposits out of time, does not mean that landlords are in any way excused from complying with the 14 day rule!