TENANT deposits will now be protected by new schemes set up by the Department for Social Development.
The Tenancy Deposit Schemes which came into force on April 1will be administered by four organisations.
Capita, Letting Protection Service (LPS), My Deposits and The Dispute Service (TDS) were appointed by Minister for Social Development Nelson McCausland earlier this year.
Tenancy Deposit Schemes ensure good practice in deposit handling so that when a tenant pays a deposit and is entitled to get it back, they can be assured that this will happen. The schemes will also assist with the resolution of disputes.