Tenancy Deposit Scheme - Advice Please

[Guest sharky]

Hi All I am new to this forum. Can anyone help re the Tenancy Deposit Scheme. I let a property on the 1st Sep and was unable to sort out the protection until today 2nd Oct, I know its my fault & that ignorance is no excuse etc. etc. The tenants are fine and the certificate is signed and all OK.

My question is, should I have any worries about being penilised or fined or taken to court at a later date because of being 2 weeks late even though it is all done?

[Mortitia]

Hi Sharky,

As I see it the only people who could have caused problems for you were your tenants. They could have gone to the courts, complained and you would have been fined 3 X the deposit. Also you could not have issued a Section 21 for reposession if things had gone seriously wrong.

If the tenants are OK about things and the deposit is protected now, then all should be well. Best bet is not to do it again.

Regards,

Mortitia

[Preston]

Hi

I would really like to know the answer to this question too. The regulations appear to say that if you have failed to meet the requirements to protect the deposit and to provide the prescribed information within 14 days, then the Court is obliged to issue an order for you to pay the tenant 3 x the deposit, if an action is brought against you. And note that the obligation is to protect the depost and to provide the prescribed information, not just the former.

But this does seem really harsh doesnt it? In theory, you could protect the deposit quickly, but be a day or two late providing the prescribed information with the result that at any time your tenant could sue you for a very large sum of money.

So, does anyone have any more knowledge or experience on this one? Have there been any cases in the courts so far on the sort of relatively minor technical breach described by Sharky?

Preston