With a buy-to-let boom predicted as the private rental market continues to grow, new landlords and business entrepreneurs are emerging to take advantage of increasing demand.
One area of private property management that may not be fully understood by new landlords is the legal requirement of tenancy deposit protection.
There’s a lot more to it than simply choosing an insured scheme (where you hold the deposit and the scheme protects it for a low fee) or a custodial scheme (where the scheme holds the deposit for free).
To ensure you don’t fall foul of the law, there are critical timings, documents and processes you’ll need to be aware of.
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