Our estate agents are notifying us of our Deposit Protection renewal 3 months after they were supposed to, with the policy stated as starting today - as such, our deposit has been unprotected for the last 3 months.
They are asking us to sign a letter saying they have complied with their statutory obligations (which they haven't) - what should we do?
I found this online:
Internet wrote:The changes, which come into force on Good Friday, will give landlords and letting agents 30 days to protect their tenant’s deposit, an increase from the current 14 days.
Crucially, the tenant must be provided with proof of the deposit protection and the Prescribed Information by the landlord or agent within this 30-day limit.
If the deposit is not protected, courts will be able to order the landlord or agent to pay the tenant between one and three times the deposit amount as penalty. They will also be unable to seek possession of the property using a Section 21 notice until the penalty is settled.
mydeposits has announced that it will accept the late protection of deposits by landlords and agents after the 30-day period. However, it warns that the tenant can still seek compensation even if the deposit is protected after the 30-day period, but before going to court. Tenants can also make a claim after they have left the property.
Does this mean we are entitled to compensation purely for the estate agent allowing our deposit to be unprotected? (I hope everyone understands that we dislike our estate agents, as they charge us lots of money for doing very little - and they do it badly, and rudely)
Answers on a postcard!