MyDeposits is to end deposit protection automatically after the end of the fixed term of the tenancy unless specific action is taken by the agent or landlord. The scheme, a spin-off of the National Landlords Association, has not appeared to make any announcement about the change, but details appear on its website. It says that users of its scheme – mainly landlords, but also a number of agents – will have 30 calendar days from the end of the fixed term of the tenancy agreement to renew or extend the deposit protection. The agent or landlord must also re-issue the Prescribed Information to a tenant who stays on when the tenancy becomes statutory periodic. If the same tenant stays on but signs a new fixed-term AST agreement, then new Prescribed Information must be issued. The scheme will send four email alerts as the automatic unprotection date approaches. In a FAQ section, Mydeposits says it is unprotecting deposits as a result of the Superstrike case.
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