SMF - Just Installed!

Deposit

Started by r1r6, January 15, 2016, 05:36:14 PM

Previous topic - Next topic

r1r6

Hiya this  question is about the deposit scheme  if I did not protect the tennents deposit in scheme I understand I can fined but what if I've returned the deposit back to the tenant and the tenant as given me back the deposit where do I stand then? Can I still get fined?????

theangrylandlord

Be wary of any advice from a forum (especially my own!)
Always do your own research

I'm afraid returning the deposit and taking it back (and then securing it?) will only alleviate the restriction imposed by the De-Regulation Act 2015 that unless this was done you could not serve a valid section 21.  The tenant technically still has the right to claim for up to 3 times the deposit as you have violated  s213 Housing Act 2004 (whats done is done).  There is no time limit prescribed for them to bring an action therfore this becomes the statutory limit for agreements (Limitation Act 1980) which is 6 years....(if your agreement is a Deed then 12 years).

Best of luck