Landlords Beware - You may only have until 23rd June to comply.

Reminder of the Deregulation Act grace period

The Deregulation Act was passed on 26 March and you may be holding tenancy deposits which must be protected by 23 June. 

Do you need to act?

• Do you hold a deposit which you received before 6 April 2007?
• Did the tenancy become statutory periodic after 6 April 2007?
• Has the deposit not been protected or prescribed information served?
• For a detailed guide to the Deregulation Act and what it means for tenancy deposit protection read the latest guidance document here.http://www.tds.gb.com/eshot/images/Deregulation%20Act%20tenancy%20deposit%20protection%20infographic%20reduced.jpg
• If so you have until 23 June to protect the deposit. After this date the penalties in the Housing Act for non-protection will apply to you. 

If you have a property you let out in the Colchester or North Essex area Gallant Richardson Letting Agents can help advise you to make sure you are the correct side of the new regulations. Please do not hesitate to contact our lettings team.