New AST - Is a new Deposit Protection required?

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Ray D
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Scenario: At the start of the tenancy a deposit is taken and protected. If the tenancy is renewed at a later date, are you required in law to release the deposit and re-protect it? Of course this may mean assessing inventories etc as well.

I ask this question because I have had different answers from different deposit schemes. The TDS have specifically stated that if the tenant has re-signed a new contract there is no need to inform them as the deposit will remain protected. However, on the MyDeposits website they state that if you do not re-protect the deposit you are 'breaking the law'. Of course MyDeposits charge a fee each time which may be the rub however they do state that it is illegal!

Who is correct?

29/05/2010 00:00

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