Bond & Deposit Issues Landlords

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If you’re a Landlord

Deciding to rent out a property can be a daunting process. Unfortunately, many would-be landlords are unaware of the legal steps they must take when renting a property.

One of the most common oversights made by landlords is the failure to register the tenant’s deposit. Since the 6 April 2007, most landlords have been required to register any deposit from their tenant.

Failing to register a tenant’s deposit can result in a landlord having to pay their tenant up to three times the value of the deposit and can also make it far more costly and time-consuming for a landlord to regain possession of a rental property.

When a tenant leaves the property Landlords can make certain deductions from a tenants deposit after they leave the rented property. What they can deduct money for must be set out in the tenancy agreement or a separate document signed by  both parties. If deductions are taken incorrectly the tenant is able to challenge this.

It is therefore extremely important for landlords to seek legal advice if they are unsure as to their position.

If you are a Landlord and wish to seek legal advice, please contact our Housing Litigation Department on 0330 123 1131 for a free 10 minutes telephone consultation or email us at housing@newboldsolicitors.com. If additional advice is required we do offer a 40 minutes consultation for £60 including VAT.