Tenants 'unaware' of deposit protection right We know that most landlords do the right thing but unfortunately some are still unaware of their responsibilities to protect the deposits that are given to them in good faith. One in 14 tenants was forced to borrow money, such as taking out credit card debt or payday loans last year to cover their deposit costs, Shelter said. Landlords who fail to place their tenants' deposit in an authorised scheme within 30 days of receiving it or can be taken to court. They could face a penalty of one to three times the value of the deposit, which is then awarded to the tenant. Housing minister Mark Prisk said: "Tenancy deposit schemes offer vital protection for both tenants and landlords, giving them financial peace of mind and offering neutral help to resolve disputes. But there's always more to do to ensure that people know, and exercise their rights.