Deposit protection- Regulatory Impact Assessment

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    Deposit protection- Regulatory Impact Assessment

    I think people (landlords and tenants) really need to Google the following: HOUSING ACT 2004 - SECTIONS 214-217 AND SCHEDULE 10 - TENANCY DEPOSIT SCHEMES. FULL REGULATORY IMPACT ASSESSMENT. My tenant has threatened me with all sorts over the deposit protection scheme and I spent hours reading up on the legislation. This RIA states in item 81 under Enforcement:" Enforcement will be tenant-led, in that they will need to ask their landlord at the beginning of the tenancy how the landlord intends to protect their deposit, and ensuring after they have paid their deposit, that it has been safeguarded by a tenancy deposit scheme." This firmly places responsibility on the tenant, and not just the landlord. This law is fairly new and I didn't know about it. I was happy to protect the deposit as soon as the tenant flagged it up, but she saw it as a route to big cash. In this event, point 83 of the RIA states that the only sanction will be the inability to serve a Section 21 - until the deposit is protected, and that 3x the amount of the deposit is only payable if no dps is in place by the time of a court hearing. Presumably the sanctions threatening court action are to ensure that the landlord doesn't ignore the tenant request. Landlords who have simply slipped up and hasten to redress the situation re the dps should not be threatened by cash hungry tenants.

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