Date Published 18 June 2015
Deregulation Act Deadline Approaching
As a result of the Deregulation Act, any live deposits taken on an Assured Shorthold Tenancy (AST) before 6 April 2007 which you continue to hold against a Statutory Periodic Tenancy which began after 6 April 2007 must be protected before 23 June. Failure to comply could result in penalties for your landlord clients, including a fine and the inability to serve a Section 21 Notice.
Deposits taken before 6 April 2007 which fell into a Statutory Periodic Tenancy before 6 April 2007 need to be protected before a Section 21 Notice can be issued, although there are no financial penalties in this instance.
To find out further information about the Deregulation Act and which deposits are affected, visit our website here. You can also use our infographic as a quick tool to see if any action is required.
You can protect any affected deposits before 23 June using your online account. Simply click the button below to get started.