Correct wording in ASTs re deposit protection

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  • Correct wording in ASTs re deposit protection

    Hi - can anyone tell me the wording I have to include in my Joint and Several AST contract - I intend to use the custodial DPS. Any other advice re deposit schemes welcome. Thank you. Premieji

  • #2
    Hi,

    I was stuck on this too - it might be helpful for you to have a look at Property Hawk's website you can enter all the details of your tenancy and it generates free forms which you can use - there is Prescribed Information Parts 1 and 2 that you need to give to your tenant. Part 1 includes just basic contact type information for you, the tenant, the property etc., and you both sign that. I think(!) Part 2 is the printed terms and conditions from the Deposit Protection Scheme which you can download. I'm not an expert though so hopefully someone else can advise you further. Good luck with drawing yours up.

    I too would like to know whether apart from this Prescribed Info. you have to include any special wording in the AST itself? I have just drafted a simple clause saying the deposit will be lodged by L with the Deposit Protection Scheme and will be administered by them in accordance with their terms and conditions which have been provided to T. Is this sufficient or is there anything else to include?

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    • #3
      Originally posted by premieji View Post
      can anyone tell me the wording I have to include in my Joint and Several AST contract
      You don't need to include anything in the AST. But you do need to provide T with the prescribed information within 14 days of taking the deposit.

      http://www.opsi.gov.uk/si/si2007/uksi_20070797_en_1 tells you what the prescribed information is.

      Originally posted by investor68
      I too would like to know whether apart from this Prescribed Info. you have to include any special wording in the AST itself?
      Not as far as I know.

      Peter

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