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Missing deadline to protect deposit


SPEEDTWIN

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Does anyone know what happens if the dead line is missed to protect the deposit. I have just taken over some properties from another agent and none of them are protected. I could protect them tommorow or just wait until the tenancy comes up for renewal.

My question is, if it is protected after deadline would the DPS/goverment take the view better late than never or would it still cause problems at the end of the tenancy if there is a dispute.

I know i have a potential problem if any tenants want to claim 3x deposit.

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Presumably when you took over "management " of prop bond was "handed" to you at this point ......I would think you will have a very strong case if you prtect within 14 days of receipt .....If LL still holding bond then it will be his problem??? but he should get it protected asap, like yesterday !

Still unchartered waters so we all watch with great interest!

Simon

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If possible declare the "deposit received date" as within the last 14 days ...if for eg you received cash !! or if cheque then recd date is dated it cleared into you acc NOT date cheque issued .....(or at least i would agrue that it was/is...!)

I know people who are in same position ( there are 1000'sout there !) but as a lot have taken cash they are declaring receipt within 14 days of protection ...

S

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