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Residential tenancy deposits – are you protected?

Landlords and Tenants should take heed of the importance of complying with the legal requirements centring around the protection of tenancy deposits.

As most Landlords will be aware, any deposit paid in connection with an Assured Short-hold Tenancy since 6th April 2007 must be registered with an authorised Tenancy Deposit Scheme. The Tenant must be provided with prescribed information within 30 days of receipt of the deposit. Landlords are required to register the deposit within 30 days of receipt.

Flat lease extension under the Leasehold Reform Housing and Urban Development Act 1993

This is the right to extend your residential flat lease by 90 years on top of the unexpired term of your existing Lease. The new Lease will be at a peppercorn rent (e.g. no ground rent is payable) and will generally be on the same terms as the existing lease.

To qualify for this right, you must have been the registered owner of the flat at the Land Registry for at least two years and the original term of your lease must be in excess of 21 years.

There are a number of exclusions that will prevent you from exercising this right such as your Landlord being a charitable housing trust. You should therefore contact us to assess your own individual eligibility.

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