Landlords- Does the new legislation mean that your tenant’s deposit needs to be registered?

Any property bringing in an annual rental income of between £25,000 and £100,000 will be affected. The original threshold was introduced in order to exclude ‘luxury lets’, however the limit has not been looked at since 1990 (and has not taken into account inflation since this time). The Government have taken the view that the threshold should reflect changes in market rents and to ensure minimum requirements in tenancy agreements are met. Also, the change should improve transparency in the lettings market.