frankie3520 Posted February 5, 2009 Report Share Posted February 5, 2009 Im going to keep this as short as possible to try not to loose you. This is our first time renting out a property (as will soon become apparent). Our tennant moved in 4 months ago. There were a few teething problems but all were sorted as soon as we knew about them. Our tennant has now got in contact with us saying basically she cant afford the property anymore and will have to move out. We have now put the property back up as available with agents. This is where we seem to have cocked up: we did not realise that we were meant to secure the deposit in a scheme. We kept the deposit in a seperate bank account which was used solely for the flat. The deposit is still there. Is it too late to put the deposit into a scheme now? Link to comment Share on other sites More sharing options...
vinvin Posted February 5, 2009 Report Share Posted February 5, 2009 Im going to keep this as short as possible to try not to loose you. This is our first time renting out a property (as will soon become apparent). Our tennant moved in 4 months ago. There were a few teething problems but all were sorted as soon as we knew about them. Our tennant has now got in contact with us saying basically she cant afford the property anymore and will have to move out. We have now put the property back up as available with agents. This is where we seem to have cocked up: we did not realise that we were meant to secure the deposit in a scheme. We kept the deposit in a seperate bank account which was used solely for the flat. The deposit is still there. Is it too late to put the deposit into a scheme now? Link to comment Share on other sites More sharing options...
vinvin Posted February 5, 2009 Report Share Posted February 5, 2009 Not too late, put into DPS (google it) most easiest and cost effective (its Free)....do it now or you will not be able to serve any legal notices if you have too, also tenant may well be able to claim 3 times the deposit. However, if you have done it, before they find out you will probably be ok, as it is more an error more than an intent to be deceptive or dishonest. However, ignorance is no defence. Link to comment Share on other sites More sharing options...
frankie3520 Posted February 5, 2009 Author Report Share Posted February 5, 2009 Not too late, put into DPS (google it) most easiest and cost effective (its Free)....do it now or you will not be able to serve any legal notices if you have too, also tenant may well be able to claim 3 times the deposit. However, if you have done it, before they find out you will probably be ok, as it is more an error more than an intent to be deceptive or dishonest. However, ignorance is no defence. thank you so much. i have just rang them and finally managed to get through. they said the same as you: it is still worth doing it even though the tenant is leaving in 28 days. Link to comment Share on other sites More sharing options...
SPEEDTWIN Posted February 6, 2009 Report Share Posted February 6, 2009 thank you so much. i have just rang them and finally managed to get through. they said the same as you: it is still worth doing it even though the tenant is leaving in 28 days. Dont forget to send the precribed info relating to the deposit to the tenant as well or you could still be liable. Link to comment Share on other sites More sharing options...
vinvin Posted February 6, 2009 Report Share Posted February 6, 2009 ABSOLUTELY yes still do it, reason being if there is a dispute you will get globbered by the courts, if you have not lodged it, also IF the tenant does not go, you cannot serve any legal notices which will be valid. Also if lodged you will be able to make mitigation for stopping some of the deposit for damage etc etc.........as long as you have previous evidence of its condition. YES STILL LODGE IT........and follow the rules of doing it ....also as to providing the information to the tenant as previously mentioned by a previous contributor Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted February 6, 2009 Report Share Posted February 6, 2009 Have you receipted T for deposit ? (it's only a deposit if you both agree that it is and it is documented as such!) If not receipt them for it being a months rent up front to cover the next bit (now) as they cant affrod rent. Get "notice/surrender" of prop in writing ASAP from T. Market and relet asap, bill T for period upto new occupancy. The Rodent Link to comment Share on other sites More sharing options...
vinvin Posted February 6, 2009 Report Share Posted February 6, 2009 If it is deemed to be taken as a deposit, changing your mind later to call it something else IS NOT AN OPTION, read the rules regarding deposits and there protection. As far as billing them up until it is occupied again, even tho it will be your entitlement, if they dont have money NOW they are sure as H*** not gonna have it in the future, you cant get blood out of a stone Put your energy into in releting, more so than trying to recover money. Link to comment Share on other sites More sharing options...
web2dude Posted February 6, 2009 Report Share Posted February 6, 2009 Yes, get it in that deposit scheme asap....! Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted February 7, 2009 Report Share Posted February 7, 2009 If it is deemed to be taken as a deposit, changing your mind later to call it something else IS NOT AN OPTION, read the rules regarding deposits and there protection. As far as billing them up until it is occupied again, even tho it will be your entitlement, if they dont have money NOW they are sure as H*** not gonna have it in the future, you cant get blood out of a stone Put your energy into in releting, more so than trying to recover money. 1.Agree with above BUT documantation needs examining to verify that this is the case(sloppy paperwork MAY save the day) if in doubt protect immediately. 2.Threat of Debt Collector ellicits astounding results, money very often materialises VERY quickly! 3.As per above "Market and relet asap, bill T for period upto new occupancy." Immediately that you have signed notice/surrender - this is important because until you have this Tenancy is not ended and T could re-enter prop causing further proplems. The Rodent Link to comment Share on other sites More sharing options...
knasher Posted February 11, 2009 Report Share Posted February 11, 2009 Not too late, put into DPS (google it) most easiest and cost effective (its Free)....do it now or you will not be able to serve any legal notices if you have too, also tenant may well be able to claim 3 times the deposit. However, if you have done it, before they find out you will probably be ok, as it is more an error more than an intent to be deceptive or dishonest. However, ignorance is no defence. When I register Should I put todays date or the date when I received the deposit (May 2008) Link to comment Share on other sites More sharing options...
vinvin Posted February 13, 2009 Report Share Posted February 13, 2009 The system may well NOT LET you put a back dated date against the deposit, i dont think it does. The main aim of the game is to get it into the system, so it shows that you are abiding by the law and system. There is already case history on LL putting in deposits late. Each day is a delay...................... JUST DO IT Link to comment Share on other sites More sharing options...
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