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ARTICLE · 28 JULY 2015

Recent Changes To Legislation For Tenancy Deposit Schemes

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Government-backed Tenancy Deposit Schemes (TDSs) were created in 2004 and are intended to prevent a landlord from failing to return a tenant's deposit.

United KingdomReal Estate and Construction
Rebecca Spencer
Rebecca Spencer
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New legislation has changed the way in which it is necessary to protect tenancy deposits. Anyone who owns residential property which has been let to tenants before 6 April 2007 and a tenancy deposit was taken may need to take action.

Government-backed Tenancy Deposit Schemes (TDSs) were created in 2004 and are intended to prevent a landlord from failing to return a tenant's deposit. They are compulsory for all residential assured shorthold tenancies (ASTs) created on or after 6 April 2007.

Under the existing scheme, within 30 days of receiving a deposit for a new AST a landlord is required to protect the tenant's deposit in an approved TDS, and provide the tenant in writing with certain 'prescribed information'. This information includes details of the TDS used and what the tenant can do in the event of any dispute.

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