Saturday, 7 April 2012

Deposit protection law changes

As changes to tenancy deposit protection laws come into force, Shelter is calling on landlords to ensure they are protecting their tenants’ deposits, to protect themselves from penalties.

From Friday 6 April 2012, landlords will have up to 30 days from the start of a tenancy to place their tenant’s deposit in one of the three official protection schemes, up from the previous 14 days.

The fine for failing to do this will now be up to a judge to decide, rather than a fixed penalty, and will range from one to three times the value of the deposit, which will be awarded to the tenant.

Read the full story by clicking here Deposit protection law changes