Tenancy Deposit Guidance Updated
Tenancy deposit protection guidance for tenants and landlords in England and Wales has been updated by the Tenancy Deposit Scheme.
The update is aimed at helping tenants, landlords as well as letting agents understand better the tenancy deposit legislation which has changed hugely since the TDS launched a guide in 2015.
The Tenancy Deposit Scheme's chief executive, Steve Harriott, said: "We hear from countless landlords, tenants and agents who are confused about tenancy deposit protection and what their obligations are.
"This guide aims to lay out all of the relevant information they need in an easy to read, succinct format."
Introduction of the Tenant Fees Act
One of the big changes in legislation saw the introduction of the Tenant Fees Act last year and Mr Harriott says he's keen to clarify what this means to the industry.
He explained: "The Tenancy Fees Act is an example of legislation change that many people are aware of but do not necessarily understand or know the details.
"Tenants and landlords need to understand the changes such as the deposit and who it applies to, to help avoid non-compliance and confusion."
The new guide also offers details of those cases that have had an impact on the creation of legislation and helped shape the tenancy deposit protection scheme. The new TDS’s 'A Guide to the Legislation' for England and Wales is available to download.
The UK's BTL sector began slowing down in February
While the UK's buy to let sector has almost ground to a halt, the sector began slowing down in February before the coronavirus pandemic took hold, one index reveals.
The figures come from the Agency Express Property Activity Index which shows that the sector had a positive start in 2020.
However, market activity saw a downturn in February and the month-on-month figures across the country for new listings of rental properties dropped by -19.3%.
There was a smaller decline for those properties being let over the same period at -4.3%.
The data shows that all 12 regions that are monitored saw a drop in all new listings and just three of those regions say there was an increase in properties being let.
The busiest place for letting activity was in central London and the index highlights that was the busiest every day since 2012 when they began recording data.
