Deposits from long term tenants.
Tenancy Deposits

HJR
HJR
0 Thanks
26 Posts
9 years ago
0
I have a tenancy that commenced in 2003. It is now a continuing periodic tenancy. I took a deposit of £425 that is not protected. Was I supposed to protect it when the new legislation came in in 2007? Has the position changed with new legislation since that time?

Also following 6/4/2007 I have a tenancy (May 2007) where instead of taking a deposit I took two months rent upfront - (as advised by RLA at that time). I understand that subsequently courts ruled that the extra months rent was indeed a deposit and so should be protected. The tenant understands that he has not paid a deposit but he pays rent a full month in advance (i.e. pays on 1st Sept for the month of October).

Am I in breach of law in either of these cases?

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.