Deposit protection- Regulatory Impact Assessment

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    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.

Latest Activity

Collapse

  • Reply to No Fault Eviction
    by AndrewDod
    Next time my tenants give notice I'll try to kick them out three weeks early instead. Makes sense.
    Someone pays for all these jokers....
    24-07-2021, 13:59 PM
  • No Fault Eviction
    by Gdunwell
    Hi All, I have been living in the same house for 7 years and have just been served a form 6A giving 4 months notice to vacate. The owner is returning from overseas and wants to live in the house. Whilst disappointed I get that this is one of the perils of renting but it has raised a few questions. ...
    24-07-2021, 07:54 AM
  • Reply to Very difficult tenant issues
    by Neelix
    Do you not have a managing agent?
    24-07-2021, 13:56 PM
  • Very difficult tenant issues
    by Helvie
    I'm going to keep this short as its a long story. I have a tenant who signed the new tenancy contract on 15th June and then on 27th June I received about 20-25 messages and pictures the evening saying the flat was unliveable due to pests and that he had only moved in the night before. I went round to...
    24-07-2021, 12:46 PM
  • Reply to Stock Market - Yes or No ?
    by landlord-man
    Yes, they have a demo account where you can play with £75,000 ($100,000)

    I did put $10k into one copy on April 4th and its now on a profit of $4,915, so nearly 50% in just under 4 months.

    I guess as Im only playing, I should "invest" all the funds and see how they...
    24-07-2021, 13:28 PM
  • Stock Market - Yes or No ?
    by landlord-man
    I will post here but it may get moved - but at least it gets a bit of exposure to begin with lol

    I've used a platform called etoro for 2 or 3 years to hold shares in some cruise stocks (don't laugh) - mainly because we do 4 or 5 cruises a year and the shareholder benefits can be quite handy....
    24-07-2021, 09:50 AM
  • Reply to Very difficult tenant issues
    by landlord-man
    Has he paid the rent on June 15th and then again on July 15th?

    Sounds obvious but have you double checked you have done all the correct paperwork and deposit registration/certificate - triple check it !!

    Personally, going forward I would not liaise with the tenant in any way...
    24-07-2021, 13:19 PM
  • Reply to Changing Lease Clause to Permit Letting
    by Hudson01
    Even if you were my opinion would stay the same, i think that given it is a converted house the noise isolation and other issues are not the same as separate purpose built flats, so having one as a rental will have far more of an impact upon the other owners who live there. It really is a one way street...
    24-07-2021, 13:12 PM
  • Changing Lease Clause to Permit Letting
    by witsend55
    Not sure if this is the best section to post in, so please move if it is considered best place elsewhere.

    I have had ownership of a flat, one of just four in a converted house, for many years. There is a simple flat management structure; the four owners are directors and have one share...
    24-07-2021, 11:53 AM
  • Reply to No Fault Eviction
    by jpucng62
    This is not my understanding - perhaps others can clarify. I thought you had to give your usual notice if you were leaving before the end of the LLs notice period....
    24-07-2021, 13:09 PM
Working...
X