Clock ticking on deposit protection deadline
The Tenancy Deposit Scheme (TDS) has issued a reminder to landlord and letting agents that they have less than three weeks to protect tenancy deposits using one of three government-approved schemes. A change to the Deregulation Act means that tenancy deposits taken before 6th April 2007 now fall under deposit protection law. Landlords who fail to register deposits before 23rd June could face a penalty of between one and three times the value of the deposit and restrictions on regaining possession of their property.
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