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One week left for deposit protection deadline

All Landlords and Lettings Agents have been warned by the Deposit Protection Service that there is just one week left to register any deposits taken from older tenancies.

The deregulation act which was passed in March this year, stated that any deposits taken before 6th April 2007 and where periodic tenancies were agreed on or after that date must be protected  before 23rd June 2015, and the prescribed information must be provided.

(Prescribed information is the information that a landlord must by law make available to the tenant about the deposit protection scheme protecting their deposit and other specific details about the deposit and tenancy.)

Failure to do so could invalidate the Landlords right to issue a section 21 notice and the tenant can seek compensation up to six years after the end of tenancy.

The Managing Director of The DPS, Julian Foster, said: “The DPS welcomes these changes, which provides much needed clarity over the protection of older deposits. It brings an end to confusion over the management of deposits taken before the legislation came into force that have been retained by landlords past their original tenancy period”.