Are your deposits protected correctly?

At the end of March the Deregulation Bill became law, it allows Landlords who did not protect deposits taken before 6th April 2007 an Amnesty till 23rd June 2015 if the fixed term tenancy expired and the tenancy has not been renewed – i.e. it is now a statutory periodic tenancy.

Landlords who manage their own properties will need to register with one of the three Government-backed deposit schemes - the Tenancy Deposit Scheme, My Deposits or the Deposit Protection Service. Those who do not comply fines are unlimited, although guidance states that they will be calculated at three times the initial deposit taken.

All landlords in England and Wales with tenants on an AST agreement need to comply although landlords renting out a room in their own home and sharing living space are exempt.
The Deregulation Act 2015 also makes some changes to the Housing Act which help Landlords but also some legislation about revenge evictions!! If you would like to discuss any of these issues please do give me a call.