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who should get the interest accrued from a rental deposit held by a letting agent

Who is legally entitled to the interest accrued from a deposit held by a letting agent

clearly the money will have been in a high interest account held by the agent although the deposit itself is my money

The tenancy agreement doesn't mention anything about the status of the deposit or interest accrued

It may well be my niaivatiy in this situation for not clarifying this but even so that shouldn't automatically mean that the interest accrued suddenly belongs to the letting agent

I did not sign any terms and conditions other than the tenancy agreement itself

can anyone help please ?

Comments

  • thesaint
    thesaint Posts: 4,324 Forumite
    Part of the Furniture Combo Breaker
    If your tenancy simply mentions the return of your deposit, I would expect just that.
    Well life is harsh, hug me don't reject me.
  • olly300
    olly300 Posts: 14,738 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    If you are a tenant you don't get interest on your deposit. The landlord keeps it.

    One of the reasons for this is in some cases the tenant lives in a property for years the rent increases but the amount of the deposit doesn't. Therefore if you don't pay your last month's rent, with or without the LL agreement, or cause damage slightly over the amount of the deposit the landlord will be out of pocket. It is not financial worth it for the LL to chase tenants for small amounts of money.
    I'm not cynical I'm realistic :p

    (If a link I give opens pop ups I won't know I don't use windows)
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