New Landlord Deposit Rules

realwildone

predict that you still live with your mum. Predictions.

I need to laugh at that again.:rotfl:

So if I have a landlord prediction I live with my mum.:rotfl:

This guy with £100 million porfolio is in LONDON where prices are still rising fast. Admit it. The golden goose has died.

realwildone

The only reason most landlords are living retirement in the sun. Is because someones wants their money back??

seven-day-weekend

Although I will not be asking for a deposit in the future, I agree with the poster who pointed out that it is the tenant's money that is being protected and therefore the tenant should meet any expenses in doing so.

Generali

thesaint wrote: »

Most landlords do return the money on time.

There is a benefit to the scheme, but it will be circumvented very shortly.

Mine haven't. Perhaps I was unlucky, perhaps not. Who knows.

I understand you had the pleasure of speaking with Mrs Generali. She wishes you well.

PS Re another thread that's getting out of control, she's a filthy foreigner although thoroughly white, conservative and middle class so that's ok (haha)

donna1987

thesaint wrote: »

Ask a friend to read the thread to you slowly. You don't get it.

actually i do get it... your point is not that it will cost you money- youve made this clear that you can afford that extra bit. your point was it will cost you time...
my point was if your tennant takes time in making sure you get your rent money safely and securely every month, then whats wrong with you taking 5 minutes at the start of the tenancy to make sure that your tennants deposit money is held in a safe and secure way??? you would only have to do this once per tennant, is it that much too ask to give your tennant piece of mind??? surely if your tennant had this piece of mind that a deposit would not be withheld unfairly, the relationship between landlord and tennant would be greatly improved??? if your tennant does prove to be from hell and wreck the place, so long as you've got proof of what the property was like to start with they wont have their deposit returned. to be honest i cant see the problem.

im not having a go at you or trying to be nasty, im just trying to get you to see it from the side of the tennant. i believe that in business that you should put yourself in your customers shoes

Generali

donna1987 wrote: »

=
im not having a go at you or trying to be nasty, im just trying to get you to see it from the side of the tennant. i believe that in business that you should put yourself in your customers shoes

LLing seems to be an unusual business in that you can make a fortune whilst denegrating your clients. Perhaps that will change if you can't make money from rising house prices.

Croak_2

peter999 wrote: »

Over regulation, landlords taking large deposits & law being one sided towards Landlord has stifled flexibility in renting.

Please tell me youre kidding. Deposits of hundreds of pounds for a property worth 100-200k, where tenants can and do do 1000s of pounds worth of damage, and sometimes much more. And the law is on the side of the tenant to the point where it aids and abets their criminal activity - not occasionally but routinely.

This new law only takes this wrong even further.

Did anyone in govt have the brain cell to ask why there was a perception gap on the issue of deposits? It is becuse tenants are so frequently irresponsible, and refuse to accept responsibility for their actions. When the cost of their actions is deducted they fail to accept that, even when it seems quite obvious.

Once again labour shows the preference for superficial appearance and vote winning over basic justice and sound law.


Croak

Croak_2

Generali wrote: »

LLing seems to be an unusual business in that you can make a fortune whilst denegrating your clients. Perhaps that will change if you can't make money from rising house prices.

It may be worth bearing in mind that popular stereotypes about LLing are somewhat unrealistic.


Croak

thesaint

Generali wrote: »

Mine haven't. Perhaps I was unlucky, perhaps not. Who knows.

I understand you had the pleasure of speaking with Mrs Generali. She wishes you well.

PS Re another thread that's getting out of control, she's a filthy foreigner although thoroughly white, conservative and middle class so that's ok (haha)

I would say that you were unlucky. I believe that the figures state that 1 in 5 feel that they've had there deposit witheld unfairly.

My best wishes to Mrs Generali.

I've looked at the thread in question twice, it will probably get closed.
No further comment from my goodself.

thesaint

donna1987 wrote: »

actually i do get it... your point is not that it will cost you money- youve made this clear that you can afford that extra bit. your point was it will cost you time...
Where have I made it clear that I can afford extra money?
You are correct in your statement that it will cost me time. I have just coined a phrase that I hope will catch on.
Time is Money. Catchy ehh? tell a friend.
my point was if your tennant takes time in making sure you get your rent money safely and securely every month, then whats wrong with you taking 5 minutes at the start of the tenancy to make sure that your tennants deposit money is held in a safe and secure way??? I wouldn't post my money for my mortgage through the building societies door, not because i'm concerned about them, but for the sole reason that they will charge me again if they don't receive it.
My tenants money was always held in a secure way, You are getting me mixed up with Rigsby who kept his money in his wardrobe?
Where have you got the figure of 5 mins from?you would only have to do this once per tennant, is it that much too ask to give your tennant piece of mind??? surely if your tennant had this piece of mind that a deposit would not be withheld unfairly, the relationship between landlord and tennant would be greatly improved??? My new tenants usually are friends/relatives of current/past tenants. They pass my number on because they've found that I am a good landlord(I assume).
I don't need to have a good relationship with my tenants(Although there was one woman that I would've liked to get close to...) I have responsibilities, as do they.that if your tennant does prove to be from hell and wreck the place, so long as you've got proof of what the property was like to start with they wont have their deposit returned. to be honest i cant see the problem.
The few hundred pounds that I hold is run dry by 'Bad tenant' by not paying the rent at the end of the tenancy, nett result, no money for damages. Big problem.
The new legislation will not get rid of 'Bad tenant', as it won't 'Bad landlord'.
im not having a go at you or trying to be nasty, im just trying to get you to see it from the side of the tennant. i believe that in business that you should put yourself in your customers shoes I do see it from the side of the tenant, I just think that it shouldn't be my job to secure their money.

My current tenants will receive their deposits back on the day of check out. I feel sorry for them when they leave their next property. They will have to have enough money for two deposits while their current one is in pergatory.