The Government issued its Draft Tenant Fees Bill yesterday which can be found here: https://www.gov.uk/government/publications/draft-tenants-fees-bill
The Government says the Bill will:
In relation to deposits the Government intends to:
Clearly this is the Bill as currently drafted but it is likely that there will be further amendments as the Bill progresses through Parliament; TDS will keep you updated as changes are made to the Bill in relation to deposits.
Almost all TDS Letting Agents have Client Money Protection in place and the Government now intends in the Bill to make it compulsory for letting agents to have Client Money Protection (as is now required in Wales and will be mandatory in Scotland from January 2018).
The Government is now consulting on this and we will be submitting a detailed response.
The Consultation paper can be found here:
If you are a Landlord and would like to keep up to date with any changes that may affect you or your responsibilities, you can contact the RLA at: firstname.lastname@example.org and quote reference: dg715 to receive 25% off your first year’s membership.
For agents who would like to stay up to date, you can contact Propertymark | ARLA at: email@example.com. By being a member of Propertymark | ARLA you will be eligible for TDS Insured best headline rates.
2nd November 2017