Tenancy Deposit Alert

The window of time to protect deposits ends today: 23/06/2015

If you don’t protect the tenancy deposit by today you will be in breach of the Deregulation Act 2015. You will not get another opportunity to avoid the regulations,and if your tenant takes you to court, the Judge will have no sympathy with you.

Why?

 

In April 07 when the tenancy deposit regulations first came in, we all thought that they did not apply to deposits taken before 6 April 2007 unless the landlord gave the tenant a new tenancy deposit after that date.

Hundreds (if not thousands) of landlords allowed tenancies to ‘run on’ as a periodic after the end of the fixed term, specifically so they would not have to protect the tenancy deposit.

Then came the Court of Appeal decision in the Superstrike case.

This case said that if the tenancy deposit was taken before the 6 April but the fixed term ended and the tenancy continued after that date as a periodic tenancy then the deposit needed to be protected.

So unless landlords had protected the deposit with a scheme and served the prescribed information within 30 days of the start of the periodic tenancy – they were in breach.

What to do?

Act now to avoid a potential nasty law suit. If you do not know what to do, feel free to call us on 0161 681 3724

 

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