There is so much legislation that landlords need to be aware of to avoid major problems when letting a property.
Failure to get this right could lead to a fine of up to three times the amount of the deposit or take away the landlords right to serve notice to regain possession of their property.
On the 23rd June the deadline, part of the Deregulation Act, will affect landlords in England and Wales who have existing tenancies that started before Tenants Deposit Protection was introduced in 2007.
I think that now more than ever it is essential to employ the services of a professional letting agent to make sure you keep up to date with all the changes in the law.
Landlords who still hold a deposit on a tenancy that begun before April 2007 (rolled in to Statutory Periodic Tenancy) must protect the deposit and provide the prescribed information by 23rd June to avoid fines.
If you are a landlord or interested in becoming one we are well versed in the legislation and guidance landlords need to operate within the law so contact us for advice or a lettings appraisal.
Michael Clarke MARLA, Lettings Director
T (01252) 514000 | E firstname.lastname@example.org