Homeowner landlords unaware of tenancy deposit legislation
Homeowners who have turned to the rental market after trying unsuccessfully to sell their homes could face hefty fines if they do not comply with tenancy deposit legislation.
That's according to the Deposit Protection Service (DPS), which says that under legislation introduced in 2007, landlords must ensure that tenants' deposits are protected by a third party such as the DPS.
Landlords who fail to register deposits can be fined up to three times the value of the deposit and lose their eviction rights under the legislation, as reported on 24dash.com.
