THE PROFESSIONAL ASSOCIATION FOR LANDLORDS
DEPOSIT TAKEN BY LANDLORD
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If you take a deposit you must (for all AST’s);
- Protect the deposit with an approved scheme, and
- Give tenant and all interested parties the prescribed information about their deposit and the deposit scheme.
Within 30 calendar days of physically receiving it (from April 6th 2012)
- Do you have to protect your tenant’s deposit?
- Have you read and understood the scheme rules?
- Have you provided the Prescribed Information?
- If in doubt seek advice from the scheme administrator
- Up to 3 times deposit fine payable back to tenant;
- Can’t issue section 21 notice until full deposit returned to tenant.