The Deregulation Act 2015 ('the Act') was passed on 26 March 2015 and will be of interest both to landlords and those appointed to deal with residential properties. Below is a brief summary of those points, some of which only apply to properties in England, and the practical implications.
Tenancy Deposit Schemes (TDS)
The provisions in relation to TDS have been in force since 26 March 2015. Here are the main changes:
- Deposits taken before 6 April 2007, for tenancies which have subsequently moved onto a periodic tenancy on or after this date, now need to be protected in a Tenancy Deposit Protection scheme if the tenancy is still running. If a deposit remains unprotected, the landlord could potentially face a fine.
- For deposits taken before 6 April 2007, where the tenancy became periodic before this date, the landlord is not required to protect the tenant's deposit. However, the landlord won't be able to serve a section 21 notice to regain possession of a property unless the deposit is protected.
- If a tenancy is renewed or rolls over on a periodic basis, landlords don't need to reissue Prescribed Information to a tenant if the deposit remains with the same authorised scheme, and the parties and premises remain the same.