Deregulation Bill Update: PropertyTribes interviews Steve Harriott

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The Deregulation Bill is expected to come into law within the coming weeks, updating and clarifying deposit protection law following the Superstrike v Rodrigues and Charalambous v Ng legal rulings.

CEO Steve Harriott is interviewed below by Vanessa Warwick of PropertyTribes.

The Bill is still subject to amendments, but as it stands the key clarifications in the law will be that:

- Deposits received before 6 April 2007 on tenancies which have since become periodic must be protected within 90 days of the law coming in.

- Deposits received after 6 April 2007 which were properly protected do not need to be reprotected nor new prescribed information served when the tenancy renews, either as fixed term or statutory periodic. (However your tenancy deposit protection scheme may require you to re-protect a deposit on renewal depending on your terms of membership. For TDS this applies to pay as you go protection (TDS for Landlords, DepositGuard, Let Only) where a new fixed term is created, or where the statutory periodic tenancy has material changes to the original agreement, such as rent amount.)

- No section 21 notice can be used to regain possession if the deposit is not protected - regardless of when the deposit was received. If unprotected or PI not served the deposit must be returned or protected before the s21 can be served.

- The letting agents' details can be given in prescribed information where they have received the deposit, in place of the landlord's.


Posted by Chris Kendall on 12 February 2015

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