Industry Terms FAQs
The Tenancy Deposit Scheme is an unbiased third party scheme which has been approved by the Department of Social Development (DSD) to retain and protect a tenant's deposit until the end of their tenancy. Since 1st April 2013 all landlords, by law, must safeguard any deposit taken.
Since 25th February 2014, by law, all private landlords must register for the Landlord Registration Scheme. The scheme collects and maintains up-to-date and accurate information on landlords and their rental properties. This scheme not only allows tenants and local councils to access records on private landlords but also provides support and guidance to the landlords themselves.
All properties of primary occupancy, which are rented out to three or more unrelated individuals must, by law, be registered as a HMO. A student's accommodation throughout the academic year is regarded as their principal place of residence whilst he/she is living there.
By law, all properties with gas appliances MUST be serviced by a certified gas safety engineer once a year. The Gas Safe Register is focused on making sure your tenants and their families stay safe.
There are a number of regulations and schemes that, as a landlord, you must abide by before letting out your property. They include:
- The Tenancy Deposit Scheme
- HMO (House of Multiple Occupancy)
- The Landlord Registration Scheme
- Gas Legislation