Landlords Need To Be Aware of the Deposit Protection Scheme
Goldsmith Williams the National Property Lawyers today issued a timely warning to Landlords to be sure to comply with the law relating to Deposit Protection Schemes. Paul Cahill Solicitor with Goldsmith Williams commented
“We have recently been involved in a case where a Landlord did not comply with the current strict legal obligations and ended up being ordered to repay the deposit, plus an additional sum equivalent to 2.5 times the deposit in compensation.
If you are new to being a landlord you may not be aware of your strict obligations in relation to tenancy deposits. It is your statutory obligation to register the deposit in one of the government-backed tenancy deposit schemes within 30 days of receipt.
Paul continued “Failure to comply with of the above obligations can lead to legal action being taken against you and may result in a fine of up to three times the deposit paid. The Courts take a very dim view of landlords who ignore or fail to comply with their tenancy deposit obligations.
It is therefore very important that you are aware of your statutory obligations under the Housing Act 2004. If you are unsure of any of your landlord obligations, we strongly suggest that you take urgent legal advice. If you would like further advice or assistance from Goldsmith Williams, please contact us directly on 0845 373 3737."
Content correct at time of publication