Deposit Protection for a company let

by Readers Question

9:05 AM, 6th October 2015
About 3 years ago

Deposit Protection for a company let

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Deposit Protection for a company let

Does anyone know if there is a requirement to protect deposits taken for a company let? All the literature that I have come across refers only to ASTs.company lets

Thanks

regards

Chris



Comments

Neil Patterson

9:09 AM, 6th October 2015
About 3 years ago

I don't believe we have actually had this question before so for reference from the DPS site >> https://www.depositprotection.com/legislation

Who does Tenancy Deposit Protection affect?

The legislation covers virtually all new assured shorthold tenancy contracts used by letting agents and landlords to let a property in England and Wales.

There are some exceptions, and in the following scenarios you won’t need to register a deposit with one of our schemes:

If you're a resident landlord (i.e. you live in the property)
If the tenancy has a rental value of over £100,000 a year
Company lets
Student accommodation let directly by universities or colleges

Chris B

9:54 AM, 6th October 2015
About 3 years ago

Hi Neil

Thanks for your response, which is exactly what I wanted to hear!!

rgds

Chris

Tony McVey

14:28 PM, 11th October 2015
About 3 years ago

Nor does it apply to assured tenancies.

Imran Patel

1:42 AM, 17th July 2017
About A year ago

Old thread so hopefully someone can help. I have recently realised when considering giving notice to a tenant that my agent rented out my property to a Company but they have used an AST. The company is named on the AST. The deposit isn't registered as its a Company let but I've been advised as it was a AST I should have registered the deposit.

Is this correct or have I done the correct thing by not registering the deposit. Totally confused.

Appreciate any feed back.

Thank you.


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