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P.Pilcher
26-02-2007, 10:13 AM
Is it starting in April or not? Paul F posted recently that as the government has not yet introduced the necessary legislation it was now unlikely to start until October. Do we need to finalise our preparations now or can they yet again be delayed?

P.P.

Edited to say: Yes, I am aware of the thread on the agents board, but it seems to have gone awfully quiet about this and I am hoping somebody - like Paul F may have some up to date info.

P.P.

caroline7758
26-02-2007, 10:30 AM
The CLG site is still saying 6th April, if that means anything!

http://www.communities.gov.uk/index.asp?id=1152035

settloe_99
26-02-2007, 13:16 PM
I've heard 2 adverts on the radio today announcing that it is the 6th April so looks like that that could very well by the date

Surrey
26-02-2007, 13:55 PM
Excuse my ignorance, but where I am already holding a deposit for tenants (separate bank account of course) do I now have to put that deposit with a third party or do I continue to hold it, i.e. is it just relevant for new tenancies?

jeffrey
26-02-2007, 14:27 PM
Excuse my ignorance, but where I am already holding a deposit for tenants (separate bank account of course) do I now have to put that deposit with a third party or do I continue to hold it, i.e. is it just relevant for new tenancies?

I think that it will be retroactive, ie existing deposits will need disgorging too, once scheme is in force.
But no good will come of it. I expect it to collapse in disarray once the first tenants demanding deposit release get into the machinery designed by unworldly civil servants.

P.Pilcher
26-02-2007, 14:51 PM
Jeffrey - I may stand to be corrected, but I understand that the new scheme is only intended to apply to new tenancies signed after April 6th (or whenever the TDS finally starts). The existing arrangements continue to apply for tenancy agreements signed before that date.

P.P.

PdV
26-02-2007, 15:04 PM
PP: you're correct in this.

The only exception is where existing tenancies are renewed after the TDS start date: they will then have to comply with the TDS at that time.

Regards,
Paul.