Is it true Landlords with rental income over 25K don't have to register deposits
The landlord has a block of flats which he owns and it looks obvious that his income is more than 25K - we have no contract as my friend never signed a valid one. We don't know if he uses ASTs or not.
Can this "landlord" get away with this if we end up in court? If so why is it smaller property owners that are having to do this - and as I know (to my peril) get stung quite alot by tenants - and bigger ones can get away with just keeping the deposit in a separate account?
I told RLA of the situation last night - but this post could change things for us, if it is true and we don't know how to proceed.
Any feedback greatly appreciated -
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