Deposit Protection Schemes: A Landlord’s Complete Guide
Under the Housing Act 2004, landlords in England and Wales must protect any tenancy deposit received under an assured shorthold tenancy (AST) in a government-approved deposit protection scheme within 30 days of receiving it. There are three approved schemes: the Deposit Protection Service (DPS), MyDeposits, and the Tenancy Deposit Scheme (TDS). Failure to comply can […]
Compliance Obligations When Taking Over Right to Manage
RTM companies inherit all compliance obligations from the previous managing agent. Directors must understand these obligations from day one. Immediate priorities: obtain all current compliance certificates, review the fire risk assessment, check mandatory insurance, and verify contractor compliance documentation. Common pitfalls: assuming previous records are complete, underestimating compliance costs, failing to appoint competent persons, and […]
Section 20 Consultation: A Managing Agent’s Complete Guide
Section 20 of the Landlord and Tenant Act 1985 requires landlords and managing agents to consult leaseholders before carrying out qualifying works costing more than £250 per leaseholder, or entering into qualifying long-term agreements costing more than £100 per leaseholder per year. The consultation process involves three stages: a Notice of Intention, a Statement of […]