Question about deposit more than 5 weeks

[mickey16]

I have a rental property where we now have a problem with a tenant not paying the rent .The AST date is march 2018 for 6 month duration .I have not renewed it since so it is on periodic .

at the time of the agreement the person offered 3 months rent as deposit as her history was sketchy and she desperately needed help .Any way my question is -Am I in breach of the deposit cap as I still hold the 3 month's deposit .It was entered in the TDS scheme at the time and still is .
I am a member of NRLA so will call and get some advise but will appreciate any advise .Many thanks.

[ash72]

If this is a deposit and not rent in-advance, then your in breach and you would need to return the amount back to the T.

[NaomiB]

I'm in a similar position. My tenancy agreement is dated June 2018 and I was advised by people on this forum that I was not in breach as the new regulations only came in in 2019. I think you are, therefore, ok.

[jpkeates]

at the time of the agreement the person offered 3 months rent as deposit as her history was sketchy and she desperately needed help .Any way my question is -Am I in breach of the deposit cap as I still hold the 3 month's deposit .It was entered in the TDS scheme at the time and still is .
I am a member of NRLA so will call and get some advise but will appreciate any advise .Many thanks.

No, you're fine.
If you create a new tenancy agreement with a new term, it wouldn't be allowed, but the situation as you describe is fine.

[mickey16]

After lots of research and reading ,I am in agreement with you .It's a shame the ones responsible for the guidelines does not make it easy to decipher .This is why opinion varies. I appreciate your answer and help

[mickey16]

No, you're fine.
If you create a new tenancy agreement with a new term, it wouldn't be allowed, but the situation as you describe is fine.

Many thanks .I was starting to doubt myself and what I was reading .Appreciate the feedback .

[mickey16]

If this is a deposit and not rent in-advance, then your in breach and you would need to return the amount back to the T.

So with the feedback i m getting and my own research I believe you may be incorrect .My Ast started in March 2018 and became periodic 6 months later. It was never renewed . I kept her rent low as i knew she was struggling

[mickey16]

Hi Folks ,I m just updating this post with what is definitely correct. In this case where the AST was not renewed and when the AST was granted I am allowed to maintain deposit over 5 weeks .If a new ast is granted only then will I be required to return any deposit above the cap .