Here is a short guide to the new rules outlining what we at Fisher Properties are doing to comply, and hopefully answering some of your questions.

Which scheme have you joined?
We have joined the Government-backed scheme run by the National Landlords Association and is backed by Hamilton Fraser Insurance. Your bond money will continue to be held by us, and in the event of a dispute, the scheme managers can be called upon to try and resolve it.

I paid my deposit before 6th April 2007, what will happen to it now?
Any deposit taken before 6th April 2007 is not affected by this new law. Therefore if you are a tenant of Fisher Properties, your bond is held securely by us in a seperate account. If you are not a tenant of Fisher Properties, please contact your letting agent or landlord for further details.

Does this apply to all Landlords?
Yes all those who hold a bond for the property must comply with the law. There are heavy penalties on those who don’t.

You took my bond before the 6th April, but I want it protected by the scheme, is this possible?
No, it is not possible to apply the new laws to bonds taken before this law came into effect.

Why was a change in the law required?
Unfortunately there are a few rouge Landlords out there that will unfairly keep the bond and claim that you have damaged something. These few have actually damaged the reputation for the rest of us and now the Government is trying to clamp down on them. We have now been trading for almost 6½ years and over this time we are proud to have built up a reputation for honesty and integrity. This would not have been achieved if we had ever been accused of dishonestly withholding bonds.