The new Tenancy Deposit Scheme regulations

Beate

My knowledge on the new Deposit Scheme is patchy. I know it will come into action on 6 April and tenants' deposits will be securer than before as the deposit will be held with an independend body. What I don't know is, will this scheme be applicable if you renew your shorthold tenancy agreement for another year in say, June, so effectively get a new agreement but have paid the deposit already the year before to the managing agents? I.e. can you ask the managing agents to put that deposit from the year before with an independent body? Otherwise, if you rent the same flat for 20 years, you still would not be protected if you happened to take out the tenancy before 6 April 2007?

peter999

Tenancy Deposit Protection Scheme
http://www.direct.gov.uk/en/TenancyDeposit/index.htm

"From 6 April 2007, all deposits taken by landlords and letting agents must be protected by a government-authorised tenancy deposit protection scheme"

peter999

jamesd

"Q.35 What happens if the tenant renews their contract after 6 April 2007?

If the tenant decides to remain in their existing rented property beyond the initial fixed term of 6 months, how the deposit is treated will depend on how the tenancy is continued:

Periodic tenancy - i.e. the tenancy continues with no new agreement – TDP will not apply, as no new AST will have been created.

Replacement tenancy - i.e. a new AST is created between the same landlord and tenant for the same property on substantially the same basis, – TDP will apply to the initial deposit that was paid prior to 6 April 2007."