Sign up or face fine

April 23, 2015

The deadline for Landlords to sign up to an official deposit scheme is 23rd June this year, those that fail to register with such a scheme will face heavy penalties.

The Government is running a 90-day amnesty for Landlords who have yet to put their tenants’ deposits into an official scheme,  it is thought that about 1/3rd of Landlords in England and Wales are not registered with any type of deposit protection scheme.

Most importantly any  landlords with an “assured short hold tenancy” agreement who fail to register will also be left powerless if they want for any reason  their tenant to leave at the end of their contract as the landlord will be seen to have failed their obligations.

The Buy-to Let revolution  is expected to further increase with a new wave of investors “Granlords” the older investor with released pension funds to invest. Granlords and any other Buy-to-Let investors should be  carefully considering their responsabilities as a private landlord, that is if they wish to follow private route. Alternative to being a private landlord they should also be considering the  benefits of using a  professional letting agent to manage their property, such agents should be up to date and fully aware of all such regulations appertaining to the rental market, it may just be a false economy trying to go it alone.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Breaking Property News 20/12/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Why estate and letting agents must embrace innovative technology in 2025   As we step into 2025, the UK property market continues to shift, and estate agents face mounting pressure to meet the evolving expectations of buyers and sellers. The days when static images sufficed…
Read More →
Breaking News

Breaking Property News 19/12/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   High street Auctions’ initiative launches to revive Britain’s town centres   This month the UK Government rolls out its highly anticipated ‘High Street Auctions’ scheme, a flagship measure of the Levelling Up and Regeneration Act 2023. This initiative grants local authorities the power to take…
Read More →
Estate Agent Talk

Moving Up In The World: Finding Your Dream Home

Finding your dream home is one of life’s most exciting and transformative experiences. Whether you’re looking to upsize, relocate, or finally purchase that ideal property you’ve always envisioned, the journey is both thrilling and filled with important decisions. As you embark on this path, it’s essential to plan carefully, consider your priorities, and approach the…
Read More →
new build home fronts
Breaking News

These cities are the keenest to move house in 2025

Bournemouth is the keenest area in the UK to move home, with 38,132 average monthly searches for moving-related topics per 100,000 residents. Plymouth is second, with 35,198 average monthly searches for moving, and Birmingham is third, with 35,181. Derry is the least keen area to move house, with only 3,170 average monthly searches related to…
Read More →
Love or Hate Rightmove
Breaking News

Number of rental enquiries still double pre-pandemic, as rents predicted to rise 3%

The average number of enquiries sent to agents about each available property they have to rent is still nearly double the level it was in 2019, despite improvements in the balance between supply and demand: Each available property receives an average of 11 enquiries, nearly double the 6 at this time in 2019 This is…
Read More →
bank of england interest rate
Breaking News

Response to the Bank of England interest rates decision

Response to the Bank of England interest rates decision, thoughts from the Industry Rates were left unchanged at 4.75% MPC voted 6 to 3 in favour of holding rates flat, with three members preferring to cut rates by 0.25% to 4.5% In the near-term inflation is expected to “continue to rise slightly” The market was expecting rates to remain…
Read More →