Your Deposit Is Protected After April 6th 2007
The following is a press release published here on behalf of the Communities and Local Government. If you have any further questions regarding the Tenancy Deposit Scheme please do not hesitate to contact The Information and Advice Centre on:
Nigel Cooke
(020) 7594 8067
IC Extension 48067
News Release
19 March 2007
Safeguarding Students’ Deposits, Tenancy Deposit Protection
Students stand to benefit from enhanced security and peace of mind following the introduction of the Tenancy Deposit Protection scheme (TDP), which will offer a faster, cheaper and fairer way of settling any disputes over the return of deposits in the private rental sector.
From 6 April 2007, landlords entering into new tenancy agreements will be required to place any deposit with a Government authorised scheme, which will safeguard the money and offer independent adjudication in the event of any dispute. Tenants who have kept their rented property in good condition can be confident that they will not have all or part of their deposit withheld on spurious grounds, a common complaint currently made by tenants.
The existence of the alternative dispute resolution service (ADR) will also encourage tenants and landlords to have in place, from the outset, clear agreement on the condition of the property through use of inventories, – thus ensuring that landlords are also protected.
TDP will apply to all assured shorthold tenancies (ASTs) in England and Wales, where a deposit is taken. Virtually all new contracts to let a property are ASTs. A contract that is an AST will be clearly marked as one. The TDP will add to the measures set out in the Housing Act 2004 to drive up standards in the private rented sector, including licensing multiple occupancy homes and new safety rules.
For further information see www.direct.gov.uk/tenancydeposit.
or contact Abigail Hedderwick on
020 7261 8541 or Abigail.hedderwick@gnn.gsi.gov.uk
Issued on behalf of Communities and Local Government by
Government News Network London
