new tenant deposit rules

[salavan]

hi i just heard about even more regulations being imposed on landlords regarding tenant deposits,

i just wondered if anyone knows about existing deposits, my tenant paid a deposit over 8 years ago when he first moved in he still remains in the property and i still hold the unprotected deposit

does anyone know if i am affected by this,?

do i now have to protect the 8 year old deposit?

thanks .

[Grampa]

What dates are stated on the last contract signed.

[Melboy]

I too have a tenant of nearly 8 years with an unprotected deposit and as far as I am aware the new ruling does not alter these circumstances and if it does he can have his deposit back as for once I have a 1st class tenant who is unlikely to stuff me.

[Richlist]

I also have a few tenants that have been with me between 6 - 10 years.

After that period of time a landlord gets to know wether they are oK or not.

After that length of time my tenants get a few perks such as.....

* I have usually already returned half the deposit to the tenants in exchange for a rent rise.

* They get free use of my Spanish holiday homes.

There is no requirement to protect deposits taken prior to 2007.

[Melboy]

They get free use of my Spanish holiday homes.

How about well behaved forum members who are very clean and won't wet the bed RL

[yellowbelly]

You only have to protect the deposit of an existing tenant (who moved in prior to 2007) if they sign a new fixed term agreement. If the tenant is periodic and remains periodic then the deposit does not require protecting.