Return of your bond
Legal requirements for deposit protection
When you take a property that is managed by CPS Homes, we will protect your deposit with the Deposit Protection Service (DPS). By law we are required to protect your deposit with one of three schemes; Tenancy Deposit Solutions Ltd, also known as My Deposits, The Tenancy Deposit Scheme, or the DPS as referred to above.
Please note there are some exceptions; such as if your tenancy is not an assured shorthold tenancy agreement (AST), i.e. a company let or your tenancy started before 6th April 2007. We can provide more details upon request.
Non Managed Properties
If your property is not managed by CPS Homes, your landlord is still required to protect your deposit, and you will be given details of which scheme they have chosen to use upon signing your contract. You will need to liaise with your landlord and the deposit scheme provider for the release of your deposit.
Deductions from your bond
Your deposit, or bond as it is also known by is held for security against your obligations of your tenancy agreement. More specifically deductions can be made from bond if there are rent arrears, late rent charges are outstanding, utility bills are outstanding or there is damage or missing items from the property.
With the new tenancy deposit protection regulations, any deductions from your bond can either be agreed with yourself, or disputed directly with the scheme provider. Each scheme provider has an independent claims adjudicator, which ensures any deposits are justified, and the amount deducted is reasonable.
Assisting with the return of your bond
As a tenant, you can ensure that your bond is returned promptly and in full. Before we return you bond we will: -
Check the property for any damageCheck the list of items against the inventory and schedule of conditionCheck the property is cleanCheck that all utility bills and council tax have been paid
If any of the above are not complete, then we will withhold all, or part of the deposit for the cost of rectifying any of the above problems. Please note that once your tenancy is over, we will not permit you to have keys to sort out any of the problems.
To return your deposit we will need your repayment ID number from the
DPS. You will have received this via the post at the start of your tenancy. If you have lost this number please contact the DPS on 0870 707 1707 prior to contacting CPS Homes.
If you have any queries relating to your deposit return then please contact our accounts department on 029 20 45 45 55