Paying deposit in installments

redlady_1

I have a quick question please. Is it possible to pay a deposit into a TDS in installments? If so, must this be in certain types of schemes?

Thanks

Manchee

I would doubt it tbh, if you are asking as the tenant I doubt a Landlord would agree for you to move in without a deposit paid up front. If you are asking as a Landlord, the deposit needs to be protected and the information provided within 30 days, so either you're taking a massive risk by letting to a tenant without a deposit, or the deposit has been taken already but not protected with a view to paying it in in dribs and draps which isn't good as the deposit in no way belongs to the Landlord, unless a claim is made on it and approved by DPS

redlady_1

Well, my muppet agents originally asked for one months rent as deposit. After a number of issues they have now asked for an additional £200. As a result the tenants (who move in on Friday) have asked if they can pay next month.

My opinion is that I am not the one who has asked for extra deposit (the agents screwed up) and as such it is down to the agent to decide not me. That way I can pass the buck back to them for cocking up

jamie11

redlady_1 wrote: »

That way I can pass the buck back to them for cocking up

No you can't. You're the principal and any future problems will come back on you, the agents work for you so tell them what to do, if you don't need the extra deposit then tell them to back off.

Also, the way things happen with deposits these days I always insist that any deposits my tenants pay are sent to me and protected in my own DPS account IMO that is the only sure way to be sure the law has been complied with. Don't forget to send the PI (About 15 pages)

Manchee

redlady_1 wrote: »

Well, my muppet agents originally asked for one months rent as deposit. After a number of issues they have now asked for an additional £200. As a result the tenants (who move in on Friday) have asked if they can pay next month.

My opinion is that I am not the one who has asked for extra deposit (the agents screwed up) and as such it is down to the agent to decide not me. That way I can pass the buck back to them for cocking up

Ah well in that case, I think it would be a no - theres no way you can get the extra deposit off them, get it protected and provide the info in time. Just a warning, if the deposit isn't protected properly and the prescribed info provided and all within the deadline, regardless of the role your agents took, it is you your tenant can take to court as you are they one they have a contract with.

G_M

redlady_1 wrote: »

Well, my muppet agents originally asked for one months rent as deposit. After a number of issues they have now asked for an additional £200. As a result the tenants (who move in on Friday) have asked if they can pay next month.

My opinion is that I am not the one who has asked for extra deposit (the agents screwed up) and as such it is down to the agent to decide not me. That way I can pass the buck back to them for cocking up

What worries me about this is not the deposit issue, but you fundamental misunderstanding about the tenant/agent/landlord relationship.

The agent works for you. You are the boss. The buck stops with you.

The agent must do as you instruct, not the other way ound.

I hope for your sake that you have given the agent clear instructions about how you want your property managed......

Riggster

redlady_1 saw the other issues you were having with your agent the other day.

Would it not be easier just to sack them and do it yourself? Or at least use a different agent?

starbarboy

Riggster wrote: »

redlady_1 saw the other issues you were having with your agent the other day.

Would it not be easier just to sack them and do it yourself? Or at least use a different agent?

Lol - I was just thinking the same thing - the whole point of paying an agent should surely be to make less work for you not more.

Stephen

Mozzanov

redlady_1 wrote: »

Well, my muppet agents originally asked for one months rent as deposit. After a number of issues they have now asked for an additional £200. As a result the tenants (who move in on Friday) have asked if they can pay next month.

My opinion is that I am not the one who has asked for extra deposit (the agents screwed up) and as such it is down to the agent to decide not me. That way I can pass the buck back to them for cocking up

It's important to remember that as the LL the responsibility for the deposit rests on you, i.e. to be paid into the appropriate scheme on time. Any delay (or it just not happening at all) could potentially invalidate an S21 (until you return it) and allow them to make a claim against you. If I was in your situation, I would sack the LA and sort this mess out myself.