What is the "Deposit Protection Scheme"?

The "Deposit Protection Scheme" refers specifically to a legal requirement that mandates landlords to protect tenants' deposits within a government-approved scheme. This initiative is aimed at safeguarding tenant funds, ensuring they are secure and returned at the end of the tenancy, provided the terms of the lease are met. It is designed to promote fairness in the rental market by providing tenants with peace of mind that their deposit is not mismanaged or unjustly withheld.

The other options do not accurately describe the purpose or function of the Deposit Protection Scheme. For example, while there are services that help manage rental payments, this is not the focus of the scheme. Similarly, the scheme does not involve property tax calculations or provide insurance for landlords; these fall outside its intended function and framework. Thus, option B accurately captures the essence and legal requirements associated with protecting tenant deposits.