Tuesday, 3 January 2012

Tenant Deposits Update

Landlords face being taken to court by tenants with a claim for up to four times the amount of their deposit if they haven’t looked after deposits properly and within strict deadlines from April 2012 onwards, warns a Retford law firm.

Landlord and tenant law expert James Murray of Atteys Solicitors says that landlords will risk heavy financial penalties if they do not place their tenants’ deposits in an approved scheme within 30 days and inform their tenants about this.

Click here to read the full story Tenant Deposits Update

NetRent Comment

Tenant Deposits were thrown into confusion last year by legal rulings (see previous NetRent News Blogs for more information). This is the first article we have seen that indicates that the forthcoming Localism Act will restore the clarity that landlords, agents and tenants need.