Deadline for landlords to register deposits

The UK Government is currently running a 90 day amnesty for landlords who have yet to put their tenants’ deposits into an official scheme. It is thought that up to a third of landlords in England and Wales are not registered with a deposit protection service despite the legislation being in place since 2007. After the June 23 deadline, fines worked out at three times the initial deposit will be applicable. In addition to the possible penalties, landlords who fail to register deposits will be left powerless if they want a tenant to leave at the end of a tenancy as they will be deemed to have failed in their obligations.

Full story available in The Telegraph: http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11532831/Landlords-have-two-months-to-register-deposits-or-face-3600-fine.html

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