Did you know...
As part of The Tenancy Deposit Schemes Regulations (Northern Ireland) 2012 the Department for Social Development has introduced tenancy deposit protection for all tenancies in Northern Ireland where a deposit is taken on or after 1st April 2013. From that date all deposits paid in respect of a private tenancy must be protected in a Government approved scheme within 14 days of receipt of the deposit.
It may be easy to assume that renting your house out is relatively straightforward – however, there are many landlords, new to the industry, who would tell you otherwise.
There’s a raft of things to remember that are not only best practice, but renting also carries a number of not insignificant legislative requirements.
In addition to protecting Deposits within fourteen days of receipt, Landlords/Letting Agents also have a statutory obligation (under paragraph 3 of Schedule 1 of The Tenancy Deposit Schemes Regulations (Northern Ireland) 2012) to make certain information regarding the tenancy deposit protection scheme protecting the deposit, the deposit and specified tenancy related information available to the tenant(s) within 28 days of receiving the deposit.
The LPS Northern Ireland cannot do this for landlords, but have produced a Prescribed Information template for information purposes only.
You can use this document as a template but it is your responsibility to ensure that it is correctly completed and served to the tenant(s) within 28 days of receiving the Deposit. You must ensure that you give the tenant(s) an opportunity to sign the Prescribed Information by way of confirmation that its contents are correct.