Overpaying rent

Willow1298

So I recently accidentally transferred 2x monthly rent over to the landlord and have asked for it back, they’ve agreed to transfer it back but with -£20 admin charge fee. Is this ‘allowed’ or should they transfer me the full amount back without any admin fees deducted? 

Robin9

There will be bookkeeping/accountancy/bank costs so I think £20 is justified

sharpe106

Think that is reasonable enough. Most places have an admin fee for doing anything. Why should they be out of pocket because of your mistake? Can you not just use it as next months rent? 

Will a standing order not be easier for the future so you do not make the same mistake again?

george4064

If you are able to manage without, why don't you just not make the next monthly rent payment and restart as normal afterwards?

Would save you £20 and can't see why the landlord wouldn't agree with that approach.

sourpuss2021

sharpe106 said:

 Can you not just use it as next months rent?

Presumably OP needs & wants the money back!  Besides I doubt the landlord would be offering 2.8% interest for the month he would be holding the money before it was due.   OP could easily get this rate from a savings account nowadays.

sourpuss2021

george4064 said:

If you are able to manage without, why don't you just not make the next monthly rent payment and restart as normal afterwards?

Would save you £20 and can't see why the landlord wouldn't agree with that approach.

Will the landlord be paying interest?  If not why should he be allowed to profit from OP's mistake?

If the rent is say £800 a month, that's £5.73 that the landlord would be making by keeping it in a 2.8% savings account for a month.   (Such accounts can be opened instantly).

Besides, I doubt LL's actual costs in sending the money back will amount to any more than a few pence.  How long does it take him to make an online transfer, not long I'd wager!

horsewithnoname

Robin9 said:

There will be bookkeeping/accountancy/bank costs so I think £20 is justified

£20 to make a couple of clicks? Extortion more like!

Marvel1

Cam someone explain how the Landlord will be out of pocket for transferring money? I transfer money to family/friends and the bank does not charge me. 

horsewithnoname

Marvel1 said:

Cam someone explain how the Landlord will be out of pocket for transferring money? I transfer money to family/friends and the bank does not charge me. 

A business account might charge for a transaction, but I doubt it would be £20.

davemorton

sourpuss2021 said:

george4064 said:

If you are able to manage without, why don't you just not make the next monthly rent payment and restart as normal afterwards?

Would save you £20 and can't see why the landlord wouldn't agree with that approach.

Will the landlord be paying interest?  If not why should he be allowed to profit from OP's mistake?

If the rent is say £800 a month, that's £5.73 that the landlord would be making by keeping it in a 2.8% savings account for a month.   (Such accounts can be opened instantly).

Besides, I doubt LL's actual costs in sending the money back will amount to any more than a few pence.  How long does it take him to make an online transfer, not long I'd wager!

Not saying this is wrong, but can you explain it please (in simple terms please), as I would have thought it would be just under £2 for a months interest on £800

LegallyLandlord

I agree it’s tight for the landlord to ask for an admin fee. Especially as it won’t ‘cost’ them to do it. I wouldn’t do that, but then I’m a nice landlord! 

I accidentally paid my credit card twice last year, and the credit card company (Nationwide) repaid the second payment without any fuss or fee. I think landlords should do the same.