Landlords need to select AST now says association

Posted: 03 Jan 2007 10:11:56 GMT

Landlords need to begin researching and choosing an Assured Shorthold Tenancy (AST) deposit protection schemes now, the National Landlords Association has warned

Landlords need to begin researching and choosing an Assured Shorthold Tenancy (AST) deposit protection schemes now, the National Landlords Association has warned.

The law, to be launched on April 6th, will safeguard tenant deposits and provide arbitration in the case of any dispute.

Landlords who are not a member of a scheme by the launch could face fines of up to three months rent per tenancy

"This is one of the most important changes in the private rented sector for many years," said David Salusbury, chairman of the National Landlords Association (NLA).

"There are 2.5 million households that rent privately in England and Wales, representing nearly 12 per cent of the total – that's one in eight households.

"The vast majority of British people live in rented homes at some point in their lives, so anything that affects tenants is a major concern to the media and to consumers generally."

Government statistics show that 30 per cent of tenancies end in a dispute over deposits, with 19 per cent receiving part of what they paid and 11 per cent receiving nothing.

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