Tenancy Deposit Scheme Clause Samples

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Tenancy Deposit Scheme. 7.1 Within 30 days of receiving the Deposit the Landlord shall inform the Tenant of the Tenancy Deposit Scheme being used and give details of the Tenancy Deposit Scheme as required under the membership rules of the Tenancy Deposit Scheme. 7.2 The Landlord shall provide within 30 days of the Deposit being received the information required under section 213(5) of the HA 2004 as set out in the Housing (Tenancy Deposits) (Prescribed Information) Order 2007 (SI 2007/797). 7.3 The Landlord agrees that the Deposit shall be held in accordance with the rules of the Tenancy Deposit Scheme. 7.4 The Landlord shall inform the Tenant within reasonable time of the Tenancy ending if the Landlord intends to withhold all or part of the Deposit as detailed in 5. 7.5 The Landlord shall inform the Scheme Administrator within reasonable time of the Tenancy ending that the Deposit is to be repaid in the sums agreed between the Landlord and Tenant.
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Tenancy Deposit Scheme. 2.1. The Landlord, or Agent, will transfer the Deposit to the Deposit Protection Service (DPS) custodial scheme within 30 days of physically receiving it. Any interest earned will belong to the DPS.
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Tenancy Deposit Scheme. 23.1. The deposit is protected by the deposit protection service a trading name of Computershare Investor Services PLC they are registered office address is the DPS, the pavilions, Bridgewater Road, Bristol, BS13 8AE – they can be contacted on telephone number ▇▇▇▇ ▇▇▇ ▇▇▇▇. 23.2. The Landlord has provided information required under section 213 (5) of the Housing act 2004 as set out any housing (Tenancy deposit) (prescribed information) order 2007 (SI 2007/797). 23.3. The Landlord has provided the documentation and information required by the Assured Shorthold Tenancy notices and prescribed requirements (England) regulations 2015 SI 2015/1646). 23.4. The Landlord agrees that the deposit should be held in accordance with the rules of the DPS. 23.5. The Landlord and tenant agree that any interest accrued from the deposit shall not be payable to the tenant. ADDREESS / NAME Initials: Landlord Initials: Tenant(s)
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Tenancy Deposit Scheme. 2.2.1 An additional annual fee of £50 plus VAT will be charged to Landlords for the membership, administration and additional insurance and banking requirements necessary to comply with the Tenancy Deposit Scheme (The Dispute Service). If you are already a member of one of the Tenancy Deposit Scheme Protection Services and are authorised to legitimately hold the Tenants security Deposit then please advise us of this. 2.2.2 At the end of the Tenancy both Landlord and Tenant must agree on any Deposit deductions within ten working days of the Tenancy being terminated. Should either party wish to dispute any deductions, the undisputed portion of the Deposit will be released to the Tenant or Landlord in line with any agreement reached. The Agent/Landlord or Tenant can instigate a dispute by completing the Notification of Dispute form and submitting it to the Independent Case Examiner. 2.2.3 Should we manage the Property we will co-ordinate the above process on behalf of our Landlord. 2.2.4 Should we not manage the property it is the Landlord’s responsibility to contact the Tenant prior to the end of the Tenancy to arrange to collect keys, take meter readings, inspect the property and agree with the Tenants 2.2.5 If you have selected our Standard Lettings Service and you would like Coopers to handle the Deposit return process and liaise with the Tenant then we can do so for £250.00 plus VAT. This option is only available if Coopers have organised the Inventory Check Out through Hinch Inventories.
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Tenancy Deposit Scheme. 2.1. The Landlord, or Agent, will transfer the Deposit to the Deposit Protection Service (DPS) custodial scheme within 30 days of physically receiving it. Any interest earned will belong to the DPS. 2.2. At the end of the Tenancy Agreement deductions may be made by the Landlord which must be in writing by completing a Joint Custodial Deposit Repayment Form. The following list contains reasons for deducting monies from the Deposit: - any damage caused to Premises and Fixtures and Fittings by the Tenant or arising from any breach of the Terms of this Agreement by the Tenant; - any instalment of the Rent which is due but remains unpaid at the end of the Tenancy; - any unpaid account for any services used by the Tenant during the Tenancy (if bills are not included); - any unpaid council tax (if not exempt)
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Tenancy Deposit Scheme. If a tenant pays a deposit in connection with an assured shorthold tenancy (‘AST’) it must from the moment that it is received be dealt with in accordance with a government-authorised tenancy deposit protection scheme. The landlord must give the tenant and any relevant person prescribed information about the deposit and comply with the initial requirements of the scheme within the statutory time limit, which is currently 30 days. ▇▇▇▇ & Associates Property Management Limited is a member of the Tenancy Deposit Scheme which is administered by The Dispute Service Limited (TDS), P O Box 1255, Hemel Hemspstead, Herts, HP1 9GN. Telephone ▇▇▇▇ ▇▇▇ ▇▇▇▇, Fax ▇▇▇▇▇ ▇▇▇ ▇▇▇ and e-mail ▇▇▇▇▇▇▇▇@▇▇▇.▇▇.▇▇▇. All AST deposits held by us will be subject to the terms and conditions of that scheme. Full information can be provided and/or is available and can be downloaded from ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ If you instruct us to let and manage the Property we shall hold the Deposit under the terms of the TDS. The Deposit will be held in a stakeholder capacity. We will serve the prescribed information and comply with the initial requirements of TDS. If you do not want us to protect the Deposit, you will need to receive it directly from the Tenant and protect it as required by law. A valid notice seeking possession under Section 21 of the Housing Act 1988 cannot be served on a tenant whose deposit is not protected. A tenant or a relevant person may apply through the Courts for compensation of at least the amount of the deposit and up to three times the deposit if you: a) Fail to give the prescribed information within the statutory time limit; b) Fail to comply with the initial requirements of an authorised deposit scheme within the statutory time limit; c) Notify the tenant or relevant person that the deposit has been protected but on confirmation can be obtained from the scheme. Any interest earned on the Deposit will belong to the person entitled to it under the Tenancy Agreement. If TDS directs us to send the Deposit to them, we must do that within 10 days of receiving their direction. At the end of the tenancy covered by the Tenancy Deposit Scheme. If there is no dispute we will liaise with you to ascertain what (if any) deductions you propose to make from the Deposit. Once you and the Tenant have agreed how the Deposit should be allocated, we will ask you both to confirm this in writing. We will then pay the Deposit according to what has been agreed within 10 days...
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Related to Tenancy Deposit Scheme

  • Security Deposit 12.1 Tenant has deposited with Landlord the sum set forth in Section 2.6 the (“Security Deposit”), which sum shall be held by Landlord as security for the faithful performance by Tenant of all of the terms, covenants and conditions of this Lease to be kept and performed by Tenant during the period commencing on the Execution Date and ending upon the expiration or termination of this Lease. If Tenant defaults with respect to any provision of this Lease, including, but not limited to, any provision relating to the payment of Rent, then Landlord may (but shall not be required to) use, apply or retain all or any part of the Security Deposit for the payment of any Rent or any other sum in default, or to compensate Landlord for any other loss or damage that Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, then Tenant shall, within ten (10) business days following demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount, and Tenant’s failure to do so shall be a material breach of this Lease. The provisions of this Article 12 shall survive the expiration or earlier termination of this Lease. TENANT HEREBY WAIVES THE REQUIREMENTS OF SECTION 1950.7 OF THE CALIFORNIA CIVIL CODE, AS THE SAME MAY BE AMENDED FROM TIME TO TIME. 12.2 In the event of bankruptcy or other debtor-creditor proceedings against Tenant, the Security Deposit shall be deemed to be applied first to the payment of Rent and other charges due Landlord for all periods prior to the tiling of such proceedings. 12.3 Landlord may deliver to any purchaser of Landlord’s interest in the Premises the funds deposited hereunder by Tenant, and thereupon Landlord shall be discharged from any further liability with respect to such deposit. This provision shall also apply to any subsequent transfers. 12.4 If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, then the Security Deposit, or any balance thereof, shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within thirty (30) days after the expiration or earlier termination of this Lease. 12.5 [Intentionally omitted] 12.6 If the Security Deposit shall be in cash. Landlord shall hold the Security Deposit in an account at a banking organization selected by Landlord; provided, however, that Landlord shall not be required to maintain a separate account for the Security Deposit, but may intermingle it with other funds of Landlord. Landlord shall be entitled to all interest and/or dividends, if any, accruing on the Security Deposit. Landlord shall not be required to credit Tenant with any interest for any period during which Landlord does not receive interest on the Security Deposit. 12.7 The Security Deposit may be in the form of cash, a letter of credit or any other security instrument acceptable to Landlord in its sole discretion. Tenant may at any time, except during Default (as defined below), deliver a letter of credit (the “L/C Security”) as the entire Security Deposit, as follows. 12.7.1 If Tenant elects to deliver L/C Security, then Tenant shall provide Landlord and maintain in full force and effect throughout the Term, a letter of credit in the form of Exhibit E issued by an issuer reasonably satisfactory to Landlord, in the amount of the Security Deposit, with an initial term of at least one year. If, at the Term Expiration Date, any Rent remains uncalculated or unpaid, then: (i) Landlord shall with reasonable diligence complete any necessary calculations; (ii) Tenant shall extend the expiry date of such L/C Security from time to time as Landlord reasonably requires; and (iii) in such extended period, Landlord shall not unreasonably refuse to consent to an appropriate reduction of the L/C Security. Tenant shall reimburse Landlord’s legal costs (as estimated by Landlord’s counsel) in handling Landlord’s acceptance of L/C Security or its replacement or extension. 12.7.2 If Tenant delivers to Landlord satisfactory L/C Security in place of the entire Security Deposit, Landlord shall remit to Tenant any cash Security Deposit Landlord previously held. 12.7.3 Landlord may draw upon the L/C Security, and hold and apply the proceeds in the same manner and for the same purposes as the Security Deposit, if: (i) an uncured Default (as defined below) exists; (ii) as of the date forty-five (45) days before any L/C Security expires (even if such scheduled expiry date is after the Term Expiration Date) Tenant has not delivered to Landlord an amendment or replacement for such L/C Security, reasonably satisfactory to Landlord, extending the expiry date to the earlier of (1) six (6) months after the then-current Term Expiration Date or (2) the date one year after the then-current expiry date of the L/C Security; (iii) the L/C Security provides for automatic renewals, Landlord asks the issuer to confirm the current L/C Security expiry date, and the issuer fails to do so within ten (10) business days; (iv) Tenant fails to pay (when and as Landlord reasonably requires) any bank charges for Landlord’s transfer of the L/C Security; or (v) the issuer of the L/C Security ceases, or announces that it will cease, to maintain an office in the city where Landlord may present drafts under the L/C Security. This paragraph does not limit any other provisions of this Lease allowing Landlord to draw the L/C Security under specified circumstances. 12.7.4 Tenant shall not seek to enjoin, prevent, or otherwise interfere with Landlord’s draw under L/C Security, even if it violates this Lease. Tenant acknowledges that the only effect of a wrongful draw would be to substitute a cash Security Deposit for L/C Security, causing Tenant no legally recognizable damage. Landlord shall hold the proceeds of any draw in the same manner and for the same purposes as a cash Security Deposit. In the event of a wrongful draw, the parties shall cooperate to allow Tenant to post replacement L/C Security simultaneously with the return to Tenant of the wrongfully drawn sums, and Landlord shall upon request confirm in writing to the issuer of the L/C Security that Landlord’s draw was erroneous. 12.7.5 If Landlord transfers its interest in the Premises, then Tenant shall at Tenant’s expense, within five (5) Business Days after receiving a request from Landlord, deliver (and, if the issuer requires. Landlord shall consent to) an amendment to the L/C Security naming Landlord’s grantee as substitute beneficiary. If the required Security changes while L/C Security is in force, then reliant shall deliver (and, if the issuer requires, Landlord shall consent to) a corresponding amendment to the L/C Security.

  • Utility Deposits Seller shall receive a credit for the amount of deposits, if any, with utility companies that are transferable and that are assigned to Purchaser at the Closing.

  • Acceptance of Leased Premises Tenant has accepted possession and is currently occupying the Leased Premises.

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one)