From 6th April, the rules relating to the Tenancy Deposit Scheme will change as follows:
– Deposits received on or after 6th April must be protected within 30 days of receipt.
– Those deposits that have already been received, must have been protected by midnight on the 5th April 2012.
– Where an Assured Shorthold Tenancy is renewed with a tenant, and the deposit is retained by the landlord, the deposit must be re-registered.
– Where a landlord takes money to cover loss of rent or for damages or losses to the landlords property, it will be treated as a deposit, despite the name given to it by the landlord.
– Any guarantee or bond given to the landlord will not need to be registered unless money is literally handed over to the landlord.
– The landlord cannot charge the tenant a deposit protection fee, however the landlord can charge for administration services, and can also charge VAT for it.
– The certificate and certain information in relation to the deposit protection must be supplied to the tenant and any third party that provided the deposit.
– Where a landlord wishes to serve a section 21 Notice, it will not be enforceable, unless:
1. The deposit was protected within 30 days of receipt or returned to the tenant before serving the section 21 Notice
2. The certificate and certain information in relation to the deposit protection was supplied to the tenant and any third party that provided the deposit
– Where the landlord uses the custodial tenancy deposit scheme, he must ensure that he provides DPS the correct contact details for the lead tenant. This is to ensure that where the DPS needs to return the deposit to the lead tenant at the end of the tenancy, it can contact the lead tenant to do so.
– The deposit must be registered in the name of the registered proprietor of the property, unless an agent is registering the deposit.
NO TRACKBACKS ANY TRACKBACKS WILL BE IMMEDIATELY DELETED AND MARKED AS SPAM