Help is at hand for landlords struggling to claim money through the deposit protection schemes. A deposit protection adjudicator has set up an online service to help landlords avoid the common pitfalls and successfully claim the money they are owed. Continue reading Gamekeeper turned poacher helps landlords in deposit protection disputes
The buy to let market has switched from making money on rising house prices to inflation-busting returns on rental yields. Continue reading Buy to let investors cash in on inflation-busting yields
This is the fifth in a series of 10 articles written by specialist landlord & tenant solicitor Tessa Shepperson, founder of the online Landlord Law Service. Continue reading All about tenancy deposits
Please remember that my properties are all mid range to upper end of market properties aimed at the professional tenants and retired couples. Some of the strategies outlined may be transferrable to other market sectors but not all of them. Continue reading How I minimise property management issues
Landlords are often fined huge sums in court for failing to maintain their properties. Some deserve their fines but many others are confused by the law and rely on advice from letting agents and other property professionals who may not know much better themselves.
This troubleshooting guide for buy to let landlords answers many of the most common questions: Continue reading Running a buy to let property – Landlord law FAQ
Tenants have lost two landmark appeals in cases that have rendered tenancy deposit legislation more or less useless.
The ruling means that the current 14-day time limit on protecting a deposit imposed on landlords is merely an administrative requirement and not enforceable in law. Continue reading Judges rule 14-day deposit protection rule is not legal
The case highlighted the wording of Section 214 of The Housing Act 2004, which concerns courts making an order for landlords to protect a deposit or return the money in full to the tenant.
The section also allows a court to penalise a landlord who fails to protect a deposit by imposing a penalty of three times the deposit amount. Continue reading Landlord escapes deposit protection penalty under legal loophole. A loophole in the wording of a law designed to penalise landlords who fail to protect tenant deposits has been exposed in court.
Following the letter of the law is seemingly a problem for government solicitors as well as property investors over deposit protection rules starting on October 1.
The Communities and Local Government Department (CLG) has already issued revised guidance about the regulations before they even come in to force. Continue reading Wrong wording confuses new deposit protection rules. The Communities and Local Government Department (CLG) has already issued revised guidance about the regulations before they even come in to force.
Landlords could face big fines if they do not act to comply with changes to assured shorthold tenancy agreements from next month.
The change means compulsory tenancy deposit protection comes in to force for assured shorthold tenancies for rent up to £100,000 a year from October 1, 2010. Continue reading Big fines for landlords who flout new tenancy rules. Student landlords are particularly at risk under the new rules, as many students will move in to rented homes that come under the regulations before October 1, and their deposits must go on protection by October 15
For all tenancy agreements that started on or after 6th April 2007 landlords are required to protect their tenant’s deposit using one of the Government authorised schemes. Within fourteen days of receiving the deposit, the landlord is required to inform the tenant of how it is protected.
There are three schemes:
- Two which are Insurance based, allowing landlords to hold the deposits themselves; the Tenancy Deposit Scheme run by the Dispute Service and MyDeposits
- One which is custodial based, thus allowing the company to hold the full deposit until the end of the tenancy on the landlord’s behalf. The free custodial scheme is managed by the Deposit Protection Service.
All schemes provide free resolution for any problems at the end of the tenancy.
If landlords fail to comply:
- Tenants may apply for a court order demanding that the deposit is protected or repaid
- A fine of three times the deposit amount will be payable to the tenant
- Landlords will lose the right to repossess their property under the ‘notice only’ method.
For more information on Tenancy Deposit Protection visit the below links
Directgov | Deposit Protection Service | Mydeposits | Tenancy Deposit Scheme