The Government launched its consultation programme on proposals for how statutory Tenancy Deposit Protection will operate from October 2006.
The provisions, among the measures included in the Housing Act 2004, will offer protection for nearly 1.5 million assured shorthold tenants and an estimated £768 million of tenancy deposits, currently held in England and Wales.
The measures aim to drive up standards in the private rented sector, alongside other Housing Act provisions, such as Selective Licensing for HMOs, the Housing Health and Safety Rating System, and Empty Dwelling Management Orders.
Tenancy Deposit Protection: Consultation on Secondary Legislation sets out the rights and responsibilities of both tenants and landlords at the beginning of a tenancy where a deposit is taken.
The Housing Act requires all landlords or agents taking a deposit, which will be safeguarded by a Tenancy Deposit Scheme, to provide 'prescribed' information to a tenant. The consultation, which closes on 1 February 2006, is seeking views on the content of that information.