TDS applys from date of handing deposit, or signing agreement ?

[liquidsquirrel]

Q.9 When will the schemes come into effect?

A. Tenancy Deposit Protection (TDP) will start on 6 April 2007.


I gave my deposit on the 27/03/07, I signed the agreement to start 28/04/07.

Should I be part of the scheme or not? ie; does it apply from the date of the deposit or the date of signing the AST ?

[jeffrey]

I gave my deposit on the 27/03/07, I signed the agreement to start 28/04/07.

Should I be part of the scheme or not? ie; does it apply from the date of the deposit or the date of signing the AST ?

I think that it applies only to deposits actually paid on/after 6 April, so you're probably outside it.

[sober]

I gave my deposit on the 27/03/07, I signed the agreement to start 28/04/07.

Should I be part of the scheme or not? ie; does it apply from the date of the deposit or the date of signing the AST ?

If you signed the agreement before 6 april 07 to start on 28th then you are outside, otherwise not - as I have been informed.

[attilathelandlord]

It's the taking of the deposit, not the signing of the contract that triggers the TDS. If you took deposit before 06/04/07 then it doesn't need to be protected, regardless of when you sign the contract.

[liquidsquirrel]

I wonder what happens if the cheque bounces?

You take it as a good omen and say thanks very much but I'll find another tenant! :D

Thanks for the replies, I was thinking it would probably going to be outside too.

[attilathelandlord]

It is 14 days from cleared funds, not when you accepted deposit.

You don't actually "have" a deposit until it has cleared.

Otherwise you could take a cheque, insure the deposit immediately and then the cheque bounces. You would then have insured a deposit you don't have.

[liquidsquirrel]

Hmmmm, that would certainly put me inside the new system then.
Do you know of any legal or guideline which echos what you wrote, or it is a common sense point of view ?