News

Tenancy Deposit Protection Changes

  • May 02, 2012
  • By Hunters Law

Action from Landlords needed by 6th May 2012. Legislation under the Housing Act 2004 for the protection of tenant deposits taken for Assured Shorthold Tenancies has been amended by the new Localism Act 2011 which came into force on 6th April 2012.

In summary, the changes mean that a tenancy deposit must be protected with one of the three government approved schemes and the tenant must be provided with the specified information from the Housing (Tenancy Deposits)(Prescribed Information) Order 2007 within 30 days of the deposit being received.  Failure to do so will mean the tenant is then able to go to Court to seek the return or the protection of their deposit, with the Landlord facing a penalty of one to three times the deposit amount.

Crucially, the new provisions apply to any AST in existence on 6 April 2012, irrespective of when it began or when the deposit was taken.  The new provisions do, however, give Landlords 30 days to ensure their tenant deposits comply with the Act, so in effect Landlords have until 6th May 2012 to ensure all tenancy deposits for ASTs are duly protected and the tenant notified.

Related News

Jul 10, 2020
Chancellor’s summer statement – Stamp Duty Land Tax
Jun 16, 2020
Peter Robinson examines the recent Supreme Court judgment in the case of Duval v 11-13 Randolph Crescent Limited
Mar 27, 2020
Welcome guidance from the Government about Home Moving during the coronavirus outbreak
Mar 26, 2020
Scott Battram discusses the new electrical safety regulations and landlords in The Negotiator
Feb 19, 2020
Scott Battram examines new electrical safety regulations in Property Industry Eye
Jan 24, 2020
Scott Battram examines new electrical safety regulations in Landlord Today
Dec 10, 2019
Peter Robinson examines the risks and pitfalls of property investment schemes in Finance Monthly
Nov 27, 2019
Peter Robinson examines the risks of commercial property investment in the FTAdviser
Nov 08, 2019
The Supreme Court revisits reasonableness
Oct 31, 2019
Ben Gurluk discusses the legalities of letting in RBS Homewise

© Hunters Law LLP 2020 | Privacy NoticeLegal & Regulatory | Cookies Policy | Complaints Procedure

Hunters Law LLP is authorised and regulated by the Solicitors Regulation Authority (number 657218)