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Tenancy deposits in 20 minutes! Nick Hankey Deputy Chief Executive.

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Presentation on theme: "Tenancy deposits in 20 minutes! Nick Hankey Deputy Chief Executive."— Presentation transcript:

1 Tenancy deposits in 20 minutes! Nick Hankey Deputy Chief Executive

2 Reminder: What you must do  Comply with our ‘initial requirements’ by registering the deposit  Serve Prescribed Information and a scheme leaflet (including at renewal)

3  Return the deposit  Fine of between 1 & 3 times the deposit  Be unable to use a Section 21 notice The penalties

4 Who went wrong? NiceSwindellsOldSuperstrike

5 Superstrike explained Deposit taken before April 2007 Fixed term ended in 2008 and a statutory periodic tenancy arose The deposit was not protected It was determined that it should have been protected

6 In the Superstrike scenario? Do nothingIssue the PI nowProtect & serve PI before you issue a section 21 A fine may be unavoidable if the tenant takes matters to court ( see detailed guidance on the TDS blog ) Protect the deposit now If you haven’t served PI for a historic renewed tenancy, you have three options

7 Myth busting… “ I heard I need to ‘reprotect’ the deposit for each new fixed term and end protection for the old deposit because of Superstrike ”

8 What’s new? New evidence portal New Prescribed Information Template Membership renewal on 1 April! No changes to rules, scheme leaflet or ‘B’ clauses

9 Useful info!

10 @tenancydeposits Tenancy Deposit Scheme TDS Member Agents Tenancy Deposit Scheme


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