A cautionary tale for landlords and agents - protecting deposits

A letting agent has been fined £24,118 under the Housing Act 2004 and Consumer Protection from Unfair Trading Regulations 2008 for offences, including failing to protect rental deposits on 11 properties. 

The offences occurred in the North West of England and action was taken by the local council to prosecute. 

Incidentally, the properties for which the deposits were not protected fell within the council's selective licensing scheme. 

In recent months we have seen a number of news stories reporting on fines and prosecutions. It seems local authorities are taking breaches of the legislation seriously and using their powers to take action against those agents and landlords that fail to comply with the law. 

There is no better time (apart from at the start of a tenancy!) than new year for agents and landlords to review their portfolios and check that they are complying with the rules.