Land­lords must pro­tect de­posits

Yorkshire Post - Property - - FRONT PAGE -

THE Na­tional Land­lords As­so­ci­a­tion (NLA) is re­mind­ing land­lords and let­ting agents that they must pro­tect a ten­ancy de­posit with an ap­proved gov­ern­ment scheme, af­ter changes to the Lo­cal­ism Act, which came into force yes­ter­day.

These lat­est changes give land­lords 30 days to pro­tect the de­posit af­ter re­ceiv­ing it from their ten­ant, up from the pre­vi­ous 14 days.

Land­lords must also give their ten­ant the re­quired Pre­scribed In­for­ma­tion and De­posit Pro­tec­tion Certificate as proof it is pro­tected within this 30-day pe­riod.

If a land­lord fails to pro­tect a de­posit, they could be fined be­tween one and three times the de­posit amount.

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