Here’s some good advice to all you landlords letting properties in Darwen, Blackburn, Bolton and the surrounding area.
You’re welcome to come and see us at Ainsworth Lord Estates, the leading Lettings Agent in Darwen, if you are still not sure about all the ins and outs of the changes to the Tenant Deposit Scheme rules and regulations, which came into force over Easter weekend.
Get to know the new rules
Most of you landlords renting property in Darwen and all over the NW will know that The Tenancy Deposit Scheme (TDS) requires a tenant’s deposit to be protected or ‘held’ in one of the three special government approved schemes by any landlord.
Up to now, if that tenancy deposit was not paid into one of the schemes within 14 days, a fine of three times the deposit could be imposed in County Court. Up until April 6th 2012, some of you landlords were quite often escaping the fines by ensuring the deposits were paid in by the time the case went to court. All you paid then was some basic costs. New rules mean you can’t do that any more.
A positive new deadline
There is though as ‘a positive’ to the changes – a new deadline period of 30 days to get the deposit paid in applies now instead of just fourteen days, which was thought to be too short a time taking into account what needs to be done these days setting up a new tenancy.
If you don’t get the deposit lodged in time – that is within 30 days of the tenancy sign-up – you WILL be fined for sure.
The new legislation also covers certain other modest changes, one being a revised fines structure.
Be sure you’re in step
Says Paul Ainsworth Lord, founder of Darwen Letting Agent, ALE, “ You Darwen landlords are all welcome to pop in and see us at your convenience or make an appointment to discuss these new rules with our experts – remember, we are open until eight in the evening every weekday..