The Tenancy Deposit Scheme explained
The Tenancy Deposit Scheme (TDS) is designed to ensure landlords return tenant deposits and also ensures landlords are not left out of pocket when a tenancy expires and the tenant abandons the property.
In April 2012 a number of changes to the TDS came into force:
- The period for a landlord to protect a deposit and give prescribed information to the tenant rose from 14 to 30 days.
- If a landlord fails to comply with the TDS, the tenant can apply to court, even if the tenancy has ceased.
- The penalty for not complying with the TDS is now between one and three times the deposit.
Our new Tenancy Deposit Schemes Briefing Note, compiled by Associate Solicitor Melanie Verth, outlines a landlord’s obligations under the TDS.
Please bear in mind that our Briefing Notes are intended as introductory guides only and should not be relied on as legal advice. For advice on your specific circumstances email Melanie Verth or call her on 01323 435 900.
Posted: 12 July 2012
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