The Housing Act 2004 requires all tenant deposits held within an assured shorthold tenancy to be protected through a government-backed tenancy deposit scheme. This places an obligation upon all landlords and letting agents.
In England and Wales the tenants deposit can be registered within any of the following schemes:
At Goadsby we protect deposits using the Tenancy Deposit Scheme which is operated by The Dispute Service Ltd (TDS).
When resolving deposit disputes, TDS will refer specifically to 3 documents, the Tenancy Agreement, the in-going inventory and the check out report. It is therefore very important that a comprehensive inventory is prepared as this will provide evidence of the condition of the property and its furnishings at the tenancy commencement.
At Goadsby we regularly update our portfolio of landlords about any changes to lettings legislation.
LANDLORDS – Are you ready for the new Electrical Safety regulations that come into force at the start of April 2021?
Investing in a buy-to-let property continues to have much appeal. Property has an excellent track record and for many it is recognised as a reliable investment that, over the longer term performs well.