In this week’s #ASKTDS, we’re presented with a question regarding the rules of serving Prescribed Information (PI). Can the PI be sent earlier or later than 30 days? And if it is, what does that mean for the agent or landlord?
Prescribed Information is a specific set of information you are legally obliged to provide your tenants, explaining where and how your tenant’s deposit has been protected, as well as what will happen to it when your tenant leaves. It can be a separate document, or included within the tenancy agreement.
In England, in addition to the tenancy deposit being protected within 30 days of receipt, landlords or agents must also:
The time-critical checklist above needs to be followed when dealing with tenancy deposits, and the deadlines are in place to keep you legally compliant. Sending this too late, or too early, could mean unfortunate consequences for agents and landlords who can not only receive a penalty, but can lose the ability to gain possession of their properties and issue a section 21.
Suppose the Prescribed Information is not served within those 30 days of the receipt of the deposit, or there is no evidence that it has been served. In that case, a landlord or agent should serve their tenant with a copy of this certificate to rectify the mistake, and certainly before serving a section 21 notice, if required.
You can read more about serving the document (or the deposit) too late, here
TDS has made the Prescribed Information process simple. Download the template and scheme leaflet from our Prescribed Information resources, which comes with details of your deposit pre-populated if you’re using our free TDS Custodial scheme.
If you don’t use our free TDS Custodial deposit scheme or TDS Insured deposit scheme (offering the cheapest rates), we recommend having a quick demo with one of our experts so they can help guide you through joining today!