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Cleaver

Deposit

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Carrying on from my previous post. We did protect the deposit,  but late doing so. We intend to serve a s21, would we be better to return the deposit first?? Many thanks

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I have no personal experience of protecting deposits late but if I had I would return the deposit now......and expect to have to pay out for some repairs and maintenance from my own pocket once the tenant vacated.

Unless of course you have a home owning guarantor ?

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I wouldn't return the deposit, if as you inspect you find issues that might cause you to claim from the deposit you might prefer to negotiate an easier surrender using the deposit return as a bargaining advantage.

As I understand, and I'm happy to be corrected, you can't remedy the fault of being late to register a deposit. The potential for the 3x claim (plus return of deposit anyway) will stand if returned or not.

At their departure from your property unpaid rents and the cost of repossession proceedings are the easiest to demonstrate as losses for a claim against the deposit. Come any time it goes in front of a judge, who has discretion on the value of compensation for late protection, having repossessed and citing the reasons (although irrelevant to the use of a S21) 'might' get you some sympathy anyway.

Keep the deposit, it may be the only monies you will see from here forward.

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I stopped taking deposits a while ago, for a few reasons. I'm no familiar with the DPS procedures, and in truth I was resentful at having to be at any time.

It does strike me that you have been a bit knee jerk though, more often not the best way. If dates allow I will often consider pros and cons before acting.

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