Tenancy Deposit Schemes - Start to Our Guide
From 6th April 2007, all landlords in England and Wales who take deposits and whose tenancies fall within the provisions of the Housing Acts (which includes all tenancies with a rental value of less than £25,000 a year) will have to join an authorised tenancy deposit scheme.
The idea is that these schemes will protect tenants’ deposits from rogue landlords who don’t pay up at the end of the tenancy.
Over the next few weeks, on this blog, I will look at how the different schemes will work and why the government is bringing in the changes.
You should not ignore the new system becuase if you take deposits on a new tenancy from April 6th but don't join a tenancy deposit scheme you will struggle to regain possession of your property and you will be liable to pay the tenant three times the value of the deposit.
Scary stuff!
So look out for more info here and use the Categories at the bottom to navigate to more info on tenancy deposit schemes.
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Labels: TDS, tenancy bonds, Tenancy Deposit Schemes, tenancy deposits
This entry was posted by lettingfocus, on
Tuesday, February 13, 2007.
