THE LAW

The Goverment has implemented its commitment under the Housing Act 2004 to introduce mandatory tenancy deposit protection. All private landlords in England and Wales letting private residential property under an assured shorthold tenancy starting after 6th April 2007, and taking a deposit, will by law be required to join a goverment-sponsored tenancy deposit protection scheme.

OUR ADVICE

The Association itself cannot advice everyone which scheme is best for them to go for as different schemes will suit indivisual landlords better. Our advice can only be to ensure that all landlords wishing to continue to take deposits on commencement of new tenancy must join one of the goverment-sponsored tenancy deposit protection schemes.

PROTECTION SCHEMES AVAILABLE

Below are two schemes we think at present private landlords should look at. Click on the company title to go to the website.We are still looking into what is best suited for Letting Agents.

" Tenant Assure.com "

This company acts as guarantor as to the suitability of tenants and any damages that could occur during a tenancy. they do a credit check on propective tenants, tell you if they will act as guarantor and have several ways to help you. Landlords who decide that they will no longer take a bond or deposit should have a look at this company.

" Deposit Protection Service "

This is the only scheme open to landlords, who wish to continue to take deposit, we have found so far,that is free to use. This scheme cost neither the tenant or landlord any money.