Tenancy Deposit Protection - useful information

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    Tenancy Deposit Protection - useful information

    Hello - this is Rob here providing some useful (I hope) information on tenancy deposit protection.

    Department for Communities and Local Government
    Frequently asked questions, overviews and other information can be found at:
    www.tenancydeposit.gov.uk

    The Schemes - who will run TDP

    The Government awarded contracts to three companies to run its tenancy deposit schemes on 22 November 2006.
    The three schemes are:

    The Deposit Protection Service (The DPS) - the only custodial deposit protection scheme – is free to use and open to all Landlords and Letting Agents. The service is funded entirely from the interest earned from deposits held. Landlords and Letting Agents will be able to register and make transactions online. Paper forms will also be available should internet access be an issue. The scheme will be supported by a dedicated call centre and an independent dispute resolution service. For more information, visit www.depositprotection.com or call 0870 707 1 707

    Tenancy Deposit Solutions Ltd (TDSL) is a partnership between the National Landlords Association and Hamilton Fraser Insurance. This insurance-based tenancy deposit protection scheme enables landlords, either directly or through agents, to hold deposits. Letting agents can also join the scheme. For more information, visit www.mydeposits.co.uk

    The Tenancy Deposit Scheme, TDS, is an insurance-backed deposit protection and dispute resolution scheme run by The Dispute Service that builds on a scheme established in 2003 to provide dispute resolution and complaints handling for the lettings industry. The new scheme enables letting agents and landlords to hold deposits. For more information, visit www.tds.gb.com or call 0845 226 7837.
    Rob Blackie - Blue Rubicon working with the Department for Communities and Local Government among other things.

    #2
    Is 6 April a definite commencement date, or is it subject to anything else being put in place by then?
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

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      #3
      I haven't got the exact details to hand. But the simple answer is yes it's on schedule for 6th April.

      The more complex answer as I understand it is that there are three pieces of secondary legislation and all of them have now passed through the National Assembly for Wales. They are all now either in or about to go to the Westminster Parliament where they are required to sit for a specified period of time (21 days pre commencement for the statutory instruments). Since there was cross party consensus behind TDP there is every reason to think that Parliament will pass them - but ultimately that is a decision for Parliament.
      Rob Blackie - Blue Rubicon working with the Department for Communities and Local Government among other things.

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