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LettingFocus

Unbiased buy to let, property investment and letting coaching, mentoring, advice and seminars for landlords from top selling property author and media commentator.

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Tenancy Deposit Schemes

These are due to become mandatory in April 2007, but I bet they will be put back again or possibly changed from what's planned at the moment. They could yet be scrapped altogether a la the Home Condition Reports in HIPS
As it stands at the moment, all private landlords who take deposits will have to join up or face penalties.
If you have an existing agreement that finishes in say March 2007 or any time before the planned start date, then let it roll on as a monthly periodic tenancy. This will avoid having to join a tenancy deposit scheme (TDS) -you will only have to join if you issue a new agreement after April 2007.
Even if TDS does happen, clever landlords will have some cunning plans up their sleeves to get around the new regulations. For more information contact me via the main site www.lettingfocus.com

This entry was posted by lettingfocus, on Friday, November 03, 2006.