Landlord wants to increase deposit? but WHY? on renewed 12 month tenancy

Danny_G

When living in the property of the landlord for a number of years, with the rent remaining the same,

but this year the monthly paid rent has been agreed by landlord and tenant to be decreased a little bit (due to market rent reducing in that area)

ie - the landlord will get a bit less money every month,


then if the landlord agrees to this decrease of monthly rent, then turns around that they want to keep a higher deposit

(they all ready hold some deposit, in a tenancy deposit scheme)

then what does this mean?
why would they do this?


an Example perhaps?
and does it mean, if the original deposit was say £500 (which has been held since many years ago, in the deposit scheme)
that they want a higher amount (so a bit more added to this £500) from the tenants pocket?

then what does this mean?
why would they do this?

are they possibly being greedy/ just to get more money out of the tenant?


Can you explain, with your own example please, what this means, and why they would likely be doing this?

Added: The new tenancy has not been signed yet, but will be to the new decreased rental amount

Comms69

It means the square root of f___ all. The landlord is abit late demanding a deposit after signing a 12 month contract...

[Deleted User]

No. If this has really happened, its hard to tell, maybe its best to ask the LL.

00ec25

Danny_G wrote: »

Can you explain, with your own example please, what this means, and why they would likely be doing this?

can you explain what is your real question without using "examples"

Danny_G

00ec25 wrote: »

can you explain what is your real question without using "examples"

The new tenancy has not been signed yet, but will be to the new decreased rental amount (edited above)

Example?
using example deposit amounts.

Deposit security has for example £500 saved, and if he increases the deposit held to £600, would want another £100

(that is just an example/ analogy)- and is what I meant by an example

Pixie5740

Danny_G wrote: »

When living in the property of the landlord for a number of years, with the rent remaining the same,

but this year the monthly paid rent has been agreed by landlord and tenant to be decreased a little bit (due to market rent reducing in that area)

ie - the landlord will get a bit less money every month,


then if the landlord agrees to this decrease of monthly rent, then turns around that they want to keep a higher deposit

(they all ready hold some deposit, in a tenancy deposit scheme)

then what does this mean?
why would they do this?


an Example perhaps?
and does it mean, if the original deposit was say £500 (which has been held since many years ago, in the deposit scheme)
that they want a higher amount (so a bit more added to this £500) from the tenants pocket?

then what does this mean?
why would they do this?

are they possibly being greedy/ just to get more money out of the tenant?


Can you explain, with your own example please, what this means, and why they would likely be doing this?

Added: The new tenancy has not been signed yet, but will be to the new decreased rental amount

You don't need to sign a new tenancy agreement just because the fixed term has ended nor do you need to sign one to change the rent amount. You can simply start a periodic tenancy paying the new reduced rent.

Having a larger deposit from you won't financially benefit him because the deposit always remains the tenant's money throughout the tenancy so I doubt that greed is his motivation. What this means is that you should just ask your landlord why he wants a larger deposit. For example, "Hello Mr Landlord, could you please explain why you require more deposit from me."

Danny_G

Pixie5740 wrote: »

You don't need to sign a new tenancy agreement just because the fixed term has ended nor do you need to sign one to change the rent amount. You can simply start a periodic tenancy paying the new reduced rent.

As for the why your landlord is doing this how could anyone here possibly know let alone come up with worked examples. Why don't you just ask your landlord? Having a larger deposit from you won't financially benefit him because the deposit always remains the tenant's money throughout the tenancy so I doubt that greed is his motivation.

are there any disadvantages to a periodic tenancy for a landlord?

for a tenant?

does that mean there is no contract claws which says 'when' they end of the term will be? - ie is ongoing?

Pixie5740

Read G_M's Ending/Renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?

00ec25

Danny_G wrote: »

are there any disadvantages to a periodic tenancy for a landlord?

for a tenant?

does that mean there is no contract claws which says 'when' they end of the term will be? - ie is ongoing?

are you a tenant or a LL, or is this entire thread hypothetical?

what do you think a deposit does that defines a LL as "greedy" if they try to increase it? Where do you think it is held? Who do you think benefits from holding it? Please give real examples to illustrate your answer.

elsien

Danny_G wrote: »

The new tenancy has not been signed yet, but will be to the new decreased rental amount (edited above)

Example?
using example deposit amounts.

Deposit security has for example £500 saved, and if he increases the deposit held to £600, would want another £100

(that is just an example/ analogy)- and is what I meant by an example

Instead of giving examples, why not just tell us what the previous deposit was and how much more the LL wants?

FBaby

Maybe they just realised that the deposit request before was low and they want to insure they're get a month rental paid + more if you decided not to pay the last month and caused damage without having to take you to court.