The Tenancy Deposit Scheme (TDS) has released its latest guide to the tenancy deposit protection (TDP) legislation in England and Wales.
Since the last guide was published in 2015, the legislation in relation to tenancy deposit protection in England and Wales has changed significantly. In an attempt to combat continued confusion among tenants, landlords and letting agents, an updated guide has been put together by Steve Harriott, CEO of the Tenancy Deposit Scheme.
“Here at TDS we hear from countless tenants, landlords and letting agents who are confused about tenancy deposit protection and their obligations. The aim of this guide is to lay out all the necessary information they need in a succinct, easy to read format,” explained Steve.
One of the major changes in recent legislation was the introduction of the Tenant Fees Act 2019 in England, which Steve is keen to clarify throughout the industry.
“The Tenant Fees Act is an example of a change in legislation that people are aware of but don’t necessarily know or understand the details. Tenants and landlords alike need to understand relevant changes such as the deposit cap, and to whom it applies, to avoid confusion and non-compliance.”
The guide also includes details of landmark court cases that have impacted the legislation and consequently shaped tenancy deposit protection.
As the only not-for-profit, Government-approved tenancy deposit scheme, TDS are committed to raising standards throughout the industry to help landlords, agents and tenants.