“Landlords will have only 14 days to tell a new tenant which scheme is being used. Failure to do so could result in a court ordering the landlord to pay the tenant an amount equal to three times the deposit.”

Dancer says most landlords have already chosen a scheme but hundreds more haven’t. “The implications could be very serious because each tenancy is treated individually so every deposit that isn’t properly protected could result in a fine. For landlords with several properties that could prove very costly.

For further details contact Emma Dancer at Andersons Solicitors on Nottingham 9886722.

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