Posted by Jacqui Walton, Paralegal (Senior)
Tenancy deposits: Time is running out for residential landlords in breach
The Deregulation Act 2015 has given landlords who have not protected their tenants’ deposits correctly a second chance. The Act has given a 90 day ‘grace’ period within which landlords who are in breach can comply with their obligations without being penalised. The 90 day ‘grace’ period ends on 23 June.
It’s not too late
It is recommended that all landlords with tenants on an Assured Shorthold Tenancy check whether they have protected the tenancy deposit and correctly served the prescribed information on the tenant. If these obligations have not been complied with a landlord may face a hefty penalty.
See our helpful summary of the Deregulation Act issues and the implications for deposits taken before and after 6 April 2007. This sets out all the changes, some of which are not yet in force.
If you need advice on protecting the tenancy deposit, or to find out more about your requirements as a landlord please contact Jacqui Walton
01225 730100 Email us