DEPOSIT PROTECTION UPDATE

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R
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I wonder if anyone has received any update on deposit protection. I thought I will share this information.

I have have just received a notification from "My Deposits" scheme. In view of the Superstrike Vs Rodrigues issue,
they have amended their rules.

!. If you issue a new fixed term AST to the same existing tenant on the same terms then you must renew the protection for free with "My Deposits" and serve the new prescribed information within 30 days.

2. If the tenant stays in the property on a Statutory Periodic Tenancy, the original protection remains valid but you MUST inform "My Deposits" and serve the updated information that they provide .

3. If the landlord does not re-protect the the deposit, it will be automatically be unprotected by the scheme provider after 30 days. The landlord will then have to pay to re- purchase a new deposit protection.

Please note. This is from the "M deposits" scheme providers. I do not know what the other providers are doing.
12/11/2013 00:17

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