Almost 70% of tenants in England and Wales say they are aware of Tenancy Deposit Protection (TDP) legislation, according to tenancy deposit scheme provider my|deposits.

The research, which looks at the impact of TDP five years after its introduction in 2007, shows that just over 51% of the tenants surveyed report that they were provided with details of the TDP scheme by their landlord or agent.

Furthermore, a recent survey of landlords found that 98% took and protected a deposit.

The legislation requires that all deposits taken by landlords and agents on rental properties to be legally protected within a government approved scheme. Landlords and agents must also now provide tenants with the prescribed information within a 30 day period following receipt of the deposit.

Commenting, Eddie Hooker, CEO of my|deposits said: “Tenancy Deposit Protection (TDP) legislation was introduced to protect the consumer and their deposit money, so it’s encouraging to see that most tenants are aware of TDP.

“Although the overwhelming majority of landlords are protecting a deposit, it seems more can be done to explain to the tenant that the deposit has been successfully protected.

“Providing the tenant with details of how their deposit is protected is a vital step in the process and also a legal requirement. Sometimes this can get lost in all the paperwork landlords and agents pass on, so tenant’s need to look out for the prescribed information, usually in the form of a protection certificate.”