Tenancy Deposit News

6th February 2007

From 6 April 2007, the Government will make it compulsory on those receiving tenancy deposits in England and Wales to join a scheme that:

• Safeguards deposits for the duration of a tenancy; and 
• Offers resolutions should disputes arise.

RICS has published information setting out what steps members that will be affected by the introduction of this piece of legislation have to take to ensure they do not fall foul of the requirements.

A frequently asked questions page has also been prepared which will be reviewed and updated on a regular basis.