DPS. Absolutely Stupid Design

[Carryon Regardless]

So a T naffed off in August last.

I traced her new location, not far away, so knocked on and had keys returned and surrender signed, during September.

I made the claim for the whole deposit, of course it is only partial settlement, again during September.

I wait, no response from T, no surprise.

So I finally get back to this and progress toward the 'Statutory Declaration'. So I've to print off 3 pages to take to a solicitor for sign and stamp. The 3rd page is for the solicitor to complete. He/ she must sign , write address and stamp. It is a stand alone page with absolutely no reference to the other 2 pages that are carrying the details of claim. In other words if I photo copy this 1 page I can apply it to any other claim, in fact yours if you wish.

So the solicitor input is totally pointless. In the event of any unlikely challenge to the solicitor input, from experience, there is no record that they keep.

I now learn also that as well as chasing up said T, sending statements and threats of action to T and g'tor I must demonstrate that I have written to T and requested that they accept my claim for deposit. They are then allowed another 14 days to respond to that. Followed by 14 more days to respond after the DPS write to them.

The system is deigned to deter LL's from gaining the deposit.

I wonder how many £millions the DPS have from unclaimed deposits. In my mind the true reasons for the creation of deposit protection, as well as funds held for the duration of millions of tenancies of course.

Belly ache over, for now.

[Richlist]

Yes a sorry tale indeed. 

I feel quite fortunate that in over 20 years of residential letting & probably around 100 tenancies I've only had one small problem a few years ago. The tenant, ex army, 'naffed off' midway through a fixed term contract. My lettings agent.....who only finds me tenants and handles some of the admin' were brilliant. They are registered as official deposit takers and also offer free rent guarantee insurance (well there is a small £10 charge). Obviously applicants have to meet a strict criteria to qualify and then they have to pass my 'interview' to stand a chance of approval. It's all worked very well for me except on this one occasion. Because the deposit & the insurance is held by the same people I got most of the money owing except for a small amount......can't remember the sums involved now......but it was tax deductable !

We still occasionally take guarantors when an applicant doesn't pass the criteria for rent guarantee insurance. One example that comes to mind was an application from a trainee barrister who had little personal income but offered her parents as guarantors.

I guess we all have different experiences.

[Grampa]

54 minutes ago, Carryon Regardless said:

So a T naffed off in August last.

I traced her new location, not far away, so knocked on and had keys returned and surrender signed, during September.

I made the claim for the whole deposit, of course it is only partial settlement, again during September.

I wait, no response from T, no surprise.

So I finally get back to this and progress toward the 'Statutory Declaration'. So I've to print off 3 pages to take to a solicitor for sign and stamp. The 3rd page is for the solicitor to complete. He/ she must sign , write address and stamp. It is a stand alone page with absolutely no reference to the other 2 pages that are carrying the details of claim. In other words if I photo copy this 1 page I can apply it to any other claim, in fact yours if you wish.

So the solicitor input is totally pointless. In the event of any unlikely challenge to the solicitor input, from experience, there is no record that they keep.

I now learn also that as well as chasing up said T, sending statements and threats of action to T and g'tor I must demonstrate that I have written to T and requested that they accept my claim for deposit. They are then allowed another 14 days to respond to that. Followed by 14 more days to respond after the DPS write to them.

The system is deigned to deter LL's from gaining the deposit.

I wonder how many £millions the DPS have from unclaimed deposits. In my mind the true reasons for the creation of deposit protection, as well as funds held for the duration of millions of tenancies of course.

Belly ache over, for now.

CoR you need to look at the paid (insured based) deposit protection scheme. I think it costs about 25-30 quid which is a one off payment and you can then hold onto the deposit funds yourself without all the silly hoop jumping.

Having used both schemes (insured and custodial) the insured scheme is SO much easier to deal with and the timescales greatly reduced.  

[Melboy]

I pay the £22.50 for the Insured option available from the DPS. (tax deductible expense) 😁    No hassle and I'm in charge of proceedings and control future events. Having said that it has been many years whereby I have not returned an outgoing tenant their full deposit back to them.........and did so as recently as 2 weeks ago. 

[Carryon Regardless]

Good tip chaps, I'll look at the insurance type. In truth I'm reluctant to learn new stuff continually as by the time  I get my head round it it has often changed.

Just for laughs, on the subject that the world has gone nuts (it dissolves toward Idiocracy more each day(I refer to the American dumber than dumb film)).

I had a cheque, nuisances nowadays, for £2,988.75 - with Barclays I am able to only pay in by photo online to max of £1,000 - so off t' bank.

Today I'm checking the balances of various accounts  via mobile and see I'm near £2k light on one of the Barclays accounts. Much adding up and taking away and I'm right, I expected to see that my spread sheet had an error but no.

I go to the big screen, harder to log in but easier to use when I have. I am exactly £1,988.75 light, bit of a non coincidence thinks me. I'm not going to spend my life on the phone to be treated like a geriatric no nowt but I'm assuming Barclays have cleared £1,000 of the cheque and the rest is pending?? There is nowt on the account to show this, but I'm sure it will be me that is wrong some how. That's a hour lost, again.