Landlords face being taken to court by tenants with a claim for up to four times the amount of their deposit if they haven’t looked after the money properly from April, one of South Yorkshire’s largest independent legal firms has warned.
Landlord and tenant law experts James Murray, of Atteys Solicitors, warned that landlords will risk heavy financial penalties if they do not place tenants’ deposits in an approved account within 30 days and inform their tenants about this.
He said: “In April the new Localism Act is set to come into effect. This includes the requirement for all tenants’ deposits to be protected.
“Tenants should usually receive a leaflet called ‘What is the Tenancy Deposit Scheme?’ and a deposit protection certificate and the landlord should have registered the deposit on the TDS tenancy database.”