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Tuesday, 13 November 2018

November 2018


Deposits

The Housing Act 2004 states that all tenancy deposits taken on Assured Shorthold Tenancies must be protected within the first 30 days in one of the recognized deposit schemes and prescribed information served on the tenant.

If you fail to do this than you cannot use a Section 21 Notice to regain possession of your property unless you have given the deposit back to the tenant first. The tenant will also have a claim against you between 1 to 3 times the value of the deposit for failing to comply with this law. If you are worried about your position please contact us for advice.