GN15-12 Tenancy Deposit Schemes Update

Any landlord who takes a deposit in respect of an assured shorthold tenancy is under a legal duty to deal with the money in accordance with one of the Government approved tenancy deposit schemes.  Penalties for failure to do so are stringent and it is now much harder to avoid them.  Changes to the tenancy deposit legislation have already been highlighted in the CLA Magazine but members who are affected can find out all they need to know here.

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