What happens if you put deposit in a Deposit Scheme within a month, but have forgotten to let the tenant know? Can they e.g. claim some kind of compensation?
You dont just have to let them know, you have to serve them the Prescribed Information with evidence of service, (preferably a copy with their signature) within 30 days of receipt of the deposit.
The tenant can claim a penalty against you, but its likely that a judge would limit this to 1x the deposit if its been properly protected.
If you need to issue a s21 notice, you can serve the prescribed information the day before so as not to invalidate it.
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