The requirement to protect a tenancy deposit taken for an assured shorthold tenancy in England and Wales was introduced on 6 April 2007. Confusion and lack of knowledge of the various amendments to the legislation since 2007 continue to cause landlords and letting agents problems. Some of the problems are touched on in the article quoted below but the main issue upon which I get instructed on is not a claim, by tenants, for a deposit penalty (although plenty of such claims continue to be made) but is the difficulties landlords and agents face in seeking possession.
Failure to address the deposit requirements have an adverse effect on the validity or effect of possession notices; whether it be a Section 8 or Section 21 Housing Act notice that the landlord, or agent, seeks to rely on. This can lead to an expensive delay in obtaining possession.
Bury & Walkers LLP can assist landlords and agents in ensuring possession notices are valid so that possession can be efficiently obtained. Feel free to contact us to discuss.
It is one of the many requirements of being a landlord that the tenant’s deposit must, by law, be protected through a government-approved scheme. In England and Wales, there are three such schemes – the Tenancy Deposit Scheme, MyDeposits and Deposit Protection Service. They require the landlord or letting agent to serve Prescribed Information (details of the scheme and the tenancy) to the tenant within 30 days of receiving the deposit.