April 6, 2011

Extension of tenancy deposits to rents in excess of £25,000 per year

You will be aware that since April 6, 2007 all deposits (for rent up to £25,000 a year) taken by landlords for Assured Shorthold Tenancies (AST) have been protected by a tenancy deposit protection scheme. However, since 1st October 2010, existing private sector rented tenancies with an annual rent exceeding £25,000 but not exceeding £100,000 are converted to either an assured tenancy or AST. Tenancies granted after 28th February 1997 will be converted to ASTs. The provisions protecting tenancy deposits will apply to these tenancies. Any rent deposit taken from tenants since April 6, 2007 will have to be registered with a tenancy deposit protection scheme.

Click here for information on our legal advice and services for landlords, provided by our Landlord & Tenant Law specialist David Dixey. 

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