Residential Landlords Beware

We are sure all residential Landlords and their Agents are aware of the necessity for lodging deposits within an independent entity.

However, are you aware that even if you overlook this by mistake or may have agreed otherwise with the Tenant, the provisions relating to penalties are harsh?

If the Tenant goes to Court, the Sheriff must order the Landlord to pay to the Tenant up to three times the deposit where the Landlord or his Agent has failed to lodge the deposit with the independent entity.

Please also note that this payment is made to the Tenant so the Tenant may have an interest in not having the deposit monies lodged.

For further information, please do not hesitate to contact Forbes Leslie or David Hutchison for advice.