Landlords face being taken to court by tenants if they fail to look after deposits properly from April.
They could end up paying out up to four times the deposit if they haven’t looked after the money properly within strict deadlines, warns one of South Yorkshire’s largest independent legal firms.
The money must be placed in an approved scheme within 30 days and tenants should be told, according to James Murray of Atteys Solicitors.
He said: “In April, the Localism Act is set to come into effect.
“This includes the requirement for all tenants’ deposits to be protected and information about the Tenancy Deposit Scheme (TDS) given to the tenant within 30 days.
“The time limit is strict and tenants will be able to make a claim after 31 days if the deposit hasn’t been protected.”