Deposits! Confusion!

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  • Deposits! Confusion!

    Hi I currently have a 5 bed student HMO property, each tenant is on a seperate contract. My contract states on the top that it is a AST.
    - Does this actually constitute a AST?
    - Do I HAVE to comply with the new deposit schemes?


    I also have a house converted into 3 self contained flats - 2 people in each and not a HMO. Tenants are on the same contracts as above.
    - Are theses AST's?
    - Do I have to comply here?
    A local Estate Agent that runs a deposit scheme said I wouldn't need to comply with the flats because they aren't on AST's(although it states it at top of contract!)?

    Please could someone explain/answer my queries clearly and simply - cos I'm confused!!
    Thanks

  • #2
    I think with all AST's you need to go through TDS (Not 100% Sure)

    Comment


    • #3
      Contracts & Deposits

      Virtually all residential tenancies are now ASTs. You will have to comply with the TDS if you take deposits.

      Comment


      • #4
        Thanks for your help so far, can anyone else confirm this is correct? Why did the Estate Agent say that we weren't required to use a TDS?

        Thanks

        Comment


        • #5
          Originally posted by Blobby View Post
          Thanks for your help so far, can anyone else confirm this is correct? Why did the Estate Agent say that we weren't required to use a TDS?

          Thanks
          Agents might be confused. "HMO or not" is a different question from "TDS applies or not".
          TDS does not apply to:
          a. lettings outside 1988 Act (eg to company, or at low/no rent, or holiday let, or resident L, or business/agricultural); nor
          b. lettings within 1988 Act but on the SAT basis rather than AST basis.
          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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          • #6
            Thanks fo ryour help - but i'm still confused! Can anyone give me a DEFINITE yes or no? Does anyone know for sure? DO I have to use a TDS for both types of property? THanks

            Comment


            • #7
              Originally posted by Blobby View Post
              Thanks fo ryour help - but i'm still confused! Can anyone give me a DEFINITE yes or no? Does anyone know for sure? DO I have to use a TDS for both types of property? THanks
              One definitive answer is that if your tenants have an Assured Shorthold tenancy, then TDS will apply. Full Stop.
              On some things I am very knowledgeable, on other things I am stupid. Trouble is, sometimes I discover that the former is the latter or vice versa, and I don't know this until later - maybe even much later. Because of the number of posts I have done, I am now a Senior Member. However, read anything I write with the above in mind.

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