If you are a landlord or letting agent in Northern Ireland and take a deposit on a private tenancy on or after 1 April 2013, then you are required to protect the deposit within 14 calendar days of receiving it using either an insurance or custodial based protection scheme.
You must also provide certain information about which Tenancy Deposit Scheme is protecting it and you must serve this on your tenants within 28 calendar days of receiving the deposit – this is called ‘Prescribed Information’.
Three organisations have been appointed by the Northern Ireland Executive to administer the scheme and further information can be found on each of their websites:
Guidance for tenants
Tenants can read full details of how the Tenancy Deposit Scheme works.