The Deregulation Act 2015
The Deregulation Act 2015
The Deregulation Act has made major changes to the operation of tenancy deposits and to section 21 notices.
It is hoped that the changes will make it simpler for landlords to protect tenancy deposits by removing some of the flaws in the system, but they will also make it considerably more difficult to evict tenants by using the so-called ‘no fault possession’ process provided by section 21.
The new regulations will not have retrospective affect and so will only apply to tenancy agreements entered into after 1st October 2015, therefore there will be transition period for a number of years, where the laws which apply to your tenants could vary depending on when the agreement was entered into.
The law surrounding tenancy deposits has become quite convoluted with the decision in superstrike. These new regulations have changed this and require that a deposit be placed into a scheme within 90 days and the prescribed information served. This does not have to be repeated, so long as the tenants, demise and the deposit remain the same.
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