What are the implications for landlords?
Deposits for new tenancies starting after 1 October with rents within the new threshold will need to be protected with one of the three government-approved tenancy deposit schemes. Landlords will also need to comply with the full legal framework associated with assured shorthold tenancies. This includes having the option of using accelerated Court procedures for possession. They will also be able to use ‘off-the-shelf’ tenancy agreements. In addition, they will have to follow the procedures in the Housing Act 1988 when proposing rent increases. Landlords with existing common law tenancies which will become assured shorthold tenancies when the rental threshold is increased, will not need to protect their tenants’ deposits in a recognised scheme immediately, although we would recommend that it is good practice to do so. They will, however, need to protect the deposit if the tenancy is renewed on or after 1 October, or if a new deposit is taken. We do not consider that deposits taken befo
