There is an excellent article at the LandlordLaw Blog, covering the latest decision affecting how deposits are protected. The link is at:
http://www.landlordlawblog.co.uk/2010/02/13/tenancy-deposits-schemes-high-court-
I have already heard from some quarters that this decision is being interpreted as a way of avoiding having to protect deposits, at least initially. The logic goes that as long as you eventually comply with the requirements of the deposit schemes you can avoid any action against you being successful.
All landlords and agents should comply with the spirit as well as the letter of the law. It may take a few years for the wrinkles to be ironed out of the poorly drafted deposit legislation however there is no excuse for not protecting the deposit within 14 days of receiving it, nor giving the tenants the prescribed information within the required timescales.
No comments:
Post a Comment