By RLA Landlords are being warned that they have just a matter of weeks to protect tenancy deposits, or face thousands in fines. RLA ‘DepositGuard’ partners/providers The Tenancy Deposit Scheme (TDS) have an important update for landlords holding deposits from 2006.
The new Deregulation Act means more tenancy deposits are now under deposit protection law if received before 6 April 2007, and gives landlords until only 23 June to register them in a government approved scheme. Otherwise they face a penalty of between one and three times the value of the deposit and restrictions on regaining possession of their property…