Latest changes to the Housing Act deffered
25/07/2006 - Landlords given breathing space over plans to implement deposit holding scheme
Previous Article - Article Index - Following Article
Landlords can breathe a sigh of relief this month having heard that the latest addition to the changes bought by the 2004 Housing Act has been put back until at least April 2007. The tenancy deposit scheme which meant that landlords would need to ensure that deposits where handed over to a third party, has been met with confusion as to exactly who the third party holding the deposits would be. The cost to landlords was going to be around £70 and the arrangement was due to start on October 1st. There where fears that any costs incurred through added bureaucracy would ultimately be passed on to tenants.
The penalty for landlords if they failed to comply with the new legislation included being fined for up to three times the value of the deposit, the loss of the right to evict tenants until a dispute is resolved and would also face being barred from entering their own property.
