News & Legislations

Current Legislations For Rental Properties

Tenancy Deposit Schemes

The aim of the legislation is to ensure that a tenant paying a deposit, and who is entitled to get all or part of it back at the end of the tenancy, does so. The new rules applies to all new Assured Short Hold Tenancy Agreements created in England and Wales after 6th April 2007. You can choose from the following methods:

1, The Deposit Protection Service: The Deposit Protection Service (DPS) is open to all. It is the only service that is completely free to use and is run by a company with eight years’ experience running a similar scheme in Australia. Both landlords and tenants can manage their accounts 100% online or by using traditional postal methods, from registration to repayment.

2, Tenancy Deposit Solutions: Insurance-based. It is a membership scheme that allows the landlord to continue to hold any deposit they take from a tenant during the period of the tenancy agreement. The landlord will be required to pay a fee to protect any deposits taken from a tenant. If there is a dispute over the return of the deposit at the end of the tenancy, the scheme, supported by an insurance policy, will ensure that the amount to which the tenant is entitled is returned.

Energy Performance Certificates (EPC)

From 1st October 2008 every rental property have to have an EPC. This applies only to properties where the Tenancy Agreement started after this date.

Making the Property Safe for Tenants

By law landlords must ensure that their property is safe for letting. In particular there are a number of specific Acts which must be compiled with which includes:

Fire and Furnishings (FIRE) (safety) Regulations (1988)

The Electrical Equipment (safety) Regulations (1994) and the Plugs & Sockets safety Regulations (1994)

Gas Safety Regulations (1994)

If you require further information about the above and any other legislations or need help to arrange these for your property please do not hesitate to contact us.