Deposit Protection 30 days after...
I protected tenant's deposit at the beginning of the tenancy within a few days of receiving the deposit which was a few days before the start of the tenancy. Many years later, I increased the deposit by about 5% in line with the increase in rent, but tenant paid the balance of the deposit 2 weeks after the new contract date. I then protected the new deposit (x + 5%) figure within 30 days of the receipt of the balance (5%).
What is the law on protecting the deposit. Does the deposit have to be protected:
- 1- 30 days after the deposit was received from the tenant?
- 2- 30 days after the contract started?
Want to read more?
This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.