Renewing a tenancy with reduced deposit

Landlord Discussion
8

Hi Richard,

I decided to call up DPS and get an answer for you!

Their solution is very low-tech but here is a step-by-step guide on how to partially refund a tenancy deposit held by DPS.

  1. Go to this page on the DPS site.
  2. If you’re on an insured scheme, download the insured scheme Deposit Cap Calculator. If you’re on a custodial scheme, download the custodial scheme Deposit Cap Calculator. You do this by pressing the relevant blue button.
  3. The calculator is just a spreadsheet. Open the spreadsheet once it has downloaded
  4. Fill out the form. It will ask you for: landlord ID, registered email address, deposit ID, property address current deposit value, current rental payment amount, rental period and amount you want to repay.
  5. Save the document
  6. Attach the document to an email and sent the email to depositcap@depositprotection.com

If you have a custodial scheme then DPS will make the repayment on your behalf.

If you have an insured scheme then you will need to then return the paid amount manually. DPS will update their system assuming that you make the payment as soon as they receive and process the email you send them.

Sam