Procedure for return of DPS deposit?

ET1976

This is the first time I have had tenants leave since deposits had to be protected, so would appreciate anyone's help on the following situation.

Tenants have given their 1 month's notice but it's beneficial for both myself and the tenants to end the tenancy early. However, they need the deposit money back in order to rent their new place. I am quite happy to return the deposit after inspecting the property before they actually leave (suffice to say I trust them).

But is it possible to request repayment from DPS with a date of return of deposit being earlier than the official end of tenancy (i.e. when they give the keys back)?

Failing that, am I able to return the deposit to them from my own funds and then have them agree to the DPS returning the whole deposit back to me (if both T and LL agree to this in the repayment claim)?

I have checked the FAQs on the DPS website but don't see exactly the answers I'm looking for.

Many thanks for any advice/experience.

clutton_2

this has always been a real bone of contention with tenants.. they can no l onger get their deposit back on the day they leave.. that is part of the 2004 legislation.. that is how the various deposit schemes are set up

in theory i suppose there is no reason why you could not reimburse them with the deposit, but, i would have grave reservations about whether they would then agree to 100% deductions from the deposit so that DPS then pay you... do yoiu trust them that much ?

i would not even consider doing this....

tbs624

clutton wrote: »

this has always been a real bone of contention with tenants.. they can no l onger get their deposit back on the day they leave.. that is part of the 2004 legislation.. that is how the various deposit schemes are set up

This is *not* the case with mydeposits, for those thread readers who may be using that scheme. If both LL and T are in agreement there is no reason why the deposit cannot be unprotected online or by phone (with the usual hours) and paid out immediately.

ET1976 - I would not refund a deposit in advance of a T surrendering the tenancy and handing over the keys to the property. Harsh though it sounds, their cash flow issues aren't your problem and you have to safeguard your own interests.

SirDag

Agree that one should never return the deposit until the tenancy has finished.

But in answer to your question, I see no reason why the DPS will not permit an early return of the deposit to the tenants, why should they concern themselves. Tnt has the money, no deposit protection issues.

tbs624

SirDag wrote: »

Agree that one should never return the deposit until the tenancy has finished.

But in answer to your question, I see no reason why the DPS will not permit an early return of the deposit to the tenants, why should they concern themselves. Tnt has the money, no deposit protection issues.

I think it's more that with DPS it can take up to 10 days for repayment to be processed after the initial request. It would be interesting to know from other posters how quickly DPS does turn it round when there is prompt agreement on the allocation of the deposit by LL & T

ET1976

How about they don't pay the last month's rent, thus freeing up that money for a deposit (they're relocating to a new town and just renting a room temporarily so don't need the whole amount of the deposit). Then we agree a split repayment from the DPS where I am paid back the month's rent and they get the remainder back from the deposit?

I really would like to be helpful to them on this as it will free up the property early for me to do a few small jobs before the next tenants, plus they have kept it in absolutely tip-top condition.

clutton_2

if they are really superb tenants and you trust them.. possibly you could both sit down at the computer together and input the agreed split of the deposit - so that you actually see they agree.. but please dont do that until they have paid all rent that is due......

SirDag

tbs624 wrote: »

I think it's more that with DPS it can take up to 10 days for repayment to be processed after the initial request. It would be interesting to know from other posters how quickly DPS does turn it round when there is prompt agreement on the allocation of the deposit by LL & T

around 3-4 days