{"id":671,"date":"2011-03-28T08:33:39","date_gmt":"2011-03-28T08:33:39","guid":{"rendered":"http:\/\/blog.legal4landlords.com\/?p=671"},"modified":"2016-09-20T17:00:43","modified_gmt":"2016-09-20T17:00:43","slug":"changes-to-tenancy-deposit-scheme","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/changes-to-tenancy-deposit-scheme\/","title":{"rendered":"Changes to Tenancy Deposit Scheme"},"content":{"rendered":"<p><a href=\"http:\/\/blog.legal4landlords.com\/wp-content\/uploads\/tds_logo.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-full wp-image-672\" title=\"tds_logo\" src=\"http:\/\/blog.legal4landlords.com\/wp-content\/uploads\/tds_logo.jpg\" alt=\"\" width=\"225\" height=\"228\" \/><\/a><\/p>\n<p>Latest Landlord News by: Madalena Penny<\/p>\n<p>Changes to the Tenancy Deposit Scheme will come into effect as from April 6<sup>th<\/sup> 2011, giving less time for landlords to lodge a claim for dispute.<\/p>\n<p>The TDS, which was introduced in England &amp; Wales in April 2007, will now only allow 3 months for <a class=\"wp-caption\" title=\"Legal 4 Landlords\" href=\"http:\/\/legal4landlords.com\" target=\"_blank\">landlords <\/a>to lodge a complaint against tenant damage.\u00a0 However this is only applicable to new tenancies, while existing tenancies will still adhere to the 6-month rule.<\/p>\n<p>It\u2019s of use for landlords to note that they will need to get their invoices, quotes and photographic evidence collected and sent off sharpish within the three month deadline if they are lodging a dispute offsetting the tenant\u2019s deposit against any damage made to a rented property.<\/p>\n<p>The Tenancy Deposit scheme has received some criticism since it\u2019s introduction and come under attack from landlords, primarily because of the length of time disputes can take and the lack of support for landlords especially if tenants cannot be found or do not respond.\u00a0 When the scheme was first introduced it only affected landlords receiving a <a class=\"wp-caption\" title=\"legal 4 landlords rent guarantee cover\" href=\"http:\/\/www.legal4landlords.com\/rent-guarantee\/\" target=\"_blank\">rental income<\/a> up to \u00a325,000 per annum under an AST, but in October last year the threshold was increased to \u00a3100,000.<\/p>\n<p>Landlords who fail to refer a <a class=\"wp-caption\" title=\"legal 4 landlords deposit registration\" href=\"http:\/\/www.legal4landlords.com\/register-my-deposit\/\" target=\"_blank\">tenant\u2019s deposit<\/a> can face a fined penalty amounting to 3 times that of the deposit along with legal and court costs if a tenant makes a claim against a landlord or letting agent as laid out in the Housing Act 2004.\u00a0 It\u2019s also worth noting that indemnity<a class=\"wp-caption\" title=\"legal 4 landlords landlord insurance\" href=\"http:\/\/www.legal4landlords.com\/landlords-insurance\/\" target=\"_blank\"> insurance<\/a> won\u2019t cover these costs if any landlord or letting agent is found guilty of a non-referral of a tenant\u2019s deposit.<\/p>\n<p>However, a \u2018holding\u2019 deposit, which is paid by the potential tenant <strong>before<\/strong> a tenancy is signed is not classed under the tenancy deposit scheme and therefore not applied to as a deposit.\u00a0 (Tenants should be made aware that a holding deposit provided for a potential property is not always refunded by landlords and letting agents if the tenant fails to take the property and holding deposits are usually agreed to go towards the full deposit once the tenancy is signed.)\u00a0 It is only when the tenant signs the tenancy agreement, <strong>then<\/strong> pays the deposit to the landlord does it officially become a \u2018deposit\u2019 and must be paid into a scheme.<\/p>\n<p>In Scotland this month, a new law was introduced to their tenancy deposit scheme in which deposits are paid direct into the scheme, bypassing the landlord or letting agent completely.\u00a0 If a dispute arises between tenant and landlord it is immediately referred to an independent arbitration service.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Latest Landlord News by: Madalena Penny Changes to the Tenancy Deposit Scheme will come into effect as from April 6th 2011, giving less time for landlords to lodge a claim for dispute. The TDS, which was introduced in England &amp; Wales in April 2007, will now only allow 3 months for landlords to lodge a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[16,37,20,83,22],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Changes to Tenancy Deposit Scheme - Legal For Landlords<\/title>\n<meta name=\"description\" content=\"Changes to the Tenancy Deposit Scheme will come into effect as from April 6th 2011, giving less time for landlords to lodge a claim for dispute.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.withcreative.co.uk\/lforl\/changes-to-tenancy-deposit-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Changes to Tenancy Deposit Scheme - 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