Tenancy deposits scheme - landlords beware, The Court of Appeal reports, Danger in the TCC, Payments in - the end
LET EARLY FOR EASTER
The tenancy deposit scheme (see www.communities.gov.uk/tenancydeposit) arrives on 6 April 2007 with the Housing Act 2004 (HA 2004), ss 212–214 and Sch 10 due to be brought into force along with the Housing (Tenancy Deposit Schemes) Order 2007 (draft SI 2007/5748). The scheme will catch any tenancy deposit—money intended to be held by the landlord or otherwise as security for the performance of any obligations of the tenant or the discharge of any liability—in relation to an assured shorthold tenancy (it is reckoned that £695 is the average amount handed over) where the deposit is received on or after 6 April 2007.
Spot the difference
There are three approved schemes: a custodial scheme, where tenants pay landlords and landlords pay the deposits into the scheme, run by the Deposit Protection Service, which is free to landlords and letting agents; and two insurance schemes, where tenants pay deposits to landlords which they or agents retain with either
