Tenancy Deposit Scheme

What is it and why is it important?

The Tenancy Deposit scheme (TDS) is a government approved tenancy deposit protection scheme that applies to property in England and Wales.

We require that any new tenants to pay a tenancy deposit to cover any potential damages or unpaid rent. We will always confirm in writing what the deposit covers. The amount that is due can vary depending on the property however we would typically ask for a deposit that is equivalent to one or two month’s rent.

Paramount will also check and agree an inventory prior to you moving in. This is done purely to prevent any disputes about how much of your deposit should be returned should you decide to leave the property.

The tenancy deposit is your money. If you have paid all the rent that is due and caused no damage to the property, the full amount of the deposit will be returned  at the end of the tenancy.  However in certain cases we may make some deductions from the deposit to cover any reasonable losses.

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