Under the Housing Act 2004, any landlord or agent who takes a deposit from a tenant for an Assured Shorthold Tenancy must safeguard it in an approved tenancy deposit scheme. We ensure your deposit is properly protected.
We’re insured agents and as members of The Tenancy Deposit Scheme (TDS) we will hold deposits.
A tenant’s deposit usually is twice the monthly rental for the property. The purpose of the deposit is to cover damage to the property beyond normal wear and tear, as well as any rent arrears or costs incurred due to a breach of the contract.
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The TDS is established to serve three principal objectives:
At the end of any tenancy, Portico will return the deposit to the tenant as soon as practicably possible, less any deductions agreed. However, occasionally, a dispute may arise regarding the proposed deductions. If two parties cannot agree, Portico will refer any deadlocked disputes to the TDS. Each case is sent to an Independent Complaints Examiner and is subject to expert third-party adjudication, resulting in the apportioning of deposit money.
If you’re considering renting in London, our expert letting agents will be able to talk you through the local areas, the properties, and the benefits of renting with Portico.
Getting an accurate valuation is vital when you are selling or letting a property. Our team are experts in the London property market. Get in touch to find out how much your property is worth.
We are able to give you expert advice on a case by case basis. Complete the form and a local expert will be in touch.
