14
Sep
Landlords given advice to protect tenants
Landlords with buy-to-let properties have been given advice to make
sure their tenants are fully protected.
According to the Tenancy Deposit Scheme, residents should make sure
their deposits are in safe hands when renting a property.
A spokesman for the group said: "[Landlords have] to give proof
that they have registered the tenancy and the deposit with one of
the three tenancy deposit schemes."
This advice was also given to tenants, who were told to "always ask
for proof of registration".
Landlords who have not already done so were urged to sign up to the
tenancy deposit schemes as they will have to pay fines of up to
three times the value of the original sum if taken to court.
This is likely to come as good advice to a growing number of people
after Paragon Mortgages reported in July 2010 that there was an
increasing demand for properties from tenants.
It showed that 29 per cent of landlords recorded growing resident
demand during the second quarter of the year. 