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

whetstoneian
Posts: 1 Newbie
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 ?
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 ?
0
Comments
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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.0
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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
(If a link I give opens pop ups I won't know I don't use windows)0
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