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New Landlord Deposit Rules
Comments
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If they are prudent, they will waive the fee in this instance.
Hopefully they will put this down to experience and not send you an eviction notice now ready for when your fixed term comes to and end.
If you require your a reference...
I think it would be rather silly of them not to be pragmatic, for the sake of £50 the flat could be empty for weeks. Its potentially significantly more expensive for them not to waive the fee. Especially if I can stall for another 11 days!
(I was issued the eviction notice coming into force at the end of the year tenancy when I signed the renewal at the end of March).0 -
Actually I think for the most part people will get bored trying to make spurious claims. If the first couple don't work, then they'll realise they're just wasting their time. The spurious cases will not take long to arbitrate over.Guess 'bad landlord' disputes the return of every deposit without good reason, I understand he will lose his 'case' when it goes to the 'Dispute service' but this can't be cheap, and surely this will cripple the 'Free schemes' ability to pay for themselves from the interest they receive?
The use of interest to pay for the scheme can't be a vast amount because it can't be invested in anything long term as the money needs to be available almost immediately.
I think the cash probably can be invested over the long term, once the scheme gets going the cash coming in will mostly be paid out directly to someone else, leaving a decent float to be invested as is seen fit."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
I think it would be rather silly of them not to be pragmatic, for the sake of £50 the flat could be empty for weeks. Its potentially significantly more expensive for them not to waive the fee. Especially if I can stall for another 11 days!
(I was issued the eviction notice coming into force at the end of the year tenancy when I signed the renewal at the end of March).
It would be rather silly of them, but as they got caught with their pants down, I would suggest they are rather silly.
The flat could be empty for weeks, but the agent knows whether they have people ready to fill the vacancy swiftly or not.Well life is harsh, hug me don't reject me.0 -
seven-day-weekend wrote: »The article I read stated that 11% of tenants do not get their deposit back.
That means that 89% do.
Why are they making the decent vast majority of landlords jump through hoops because of the irresponsible few?
What makes you imagine that every time a tenant doesnt get their deposit back it must be the landlord's fault? You must be a tenant!
Croak0 -
What makes you imagine that every time a tenant doesnt get their deposit back it must be the landlord's fault? You must be a tenant!
Croak
I don't think my post suggested that?
I was a Council tenant for two years in 1973-75. Other than that I have never rented.
My husband and I had an investment property for about 15 years and now two rooms in my family home in the UK are rented out . Our son lives there as well. I made £32 profit last year as I only charge enough to pay the bills.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
seven-day-weekend wrote: »The article I read stated that 11% of tenants do not get their deposit back.
That means that 89% do.
Why are they making the decent vast majority of landlords jump through hoops because of the irresponsible few?
Just a point from here in Nerds' Corner. If 11% of tenants do not get their deposit back, it's a fair assumption that half are responsible and half are not, at least as a starting point for discussion.
In the UK there are 22,539k households. Of these 12% are rented from a private owner according to the 2001 Census. It is likely that both these figures have risen but bear with me.
That means that in 2001, about 2.7 million houses were rented privately. I believe that the average tenure in private rented accomodation is 11 months. If we assume an average of 1 month void, that means that 2.7 million deposits are 'up for grabs' each year. Of these 148,500 will have their deposits stolen by their previous landlord (5.5% of 2,700,000).
If the average deposit = average monthly rent = £744, that means that over £110 million is taken illegimitely by dodgy landlords every year!
This is back of envelope stuff of course but a rip-off worthy of government intervention I reckon.0 -
Ditto - my first deposit was submitted and protected in what must have been less than 5 minutes.
Let's hope it's as easy to get money out and distributed to the rightful owner.
Personally, I'll just not bother with a deposit. I'm expecting my tenant to leave at the end of his 6 month contract. As the rent is below market value, I can increase it to cover anticipated damages.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0
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