August 01, 2011
Since 6 April 2007, Landlords who rent properties on an assured shorthold tenancy in England and Wales must protect the deposit they receive via an authorised Tenancy Deposit Protection Scheme (section 213 of the Housing Act 2004 “HA 2004”)). The scheme was set up with the intention of safeguarding tenancy deposits; to provide alternative dispute resolution methods of resolving disputes in relation to deposits; and to punish landlords who failed to comply with their duty to protect the deposit.
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