News
Tenancy Deposit Scheme
From 6th April 2007, the Tenancy Deposit Scheme (TDS) outlined in the 2004 Housing Act will become effective. It is essential as a landlord that you are aware of this new legislation and what is required of you. Whilst the majority of landlords deal fairly and honestly in returning deposits to tenants, the TDS was drafted to ensure that the minority of bad landlords behave responsibly by protecting tenancy deposits. The TDS applies to Assured Shorthold Tenancies, the most common form of contract in England and Wales. Furthermore, the scheme only applies to tenancy agreements signed on or after 6th April 2007. Any tenancies signed prior to this date are exempt from the TDS.
Click here to read on about the scheme.