Mortitia Posted February 25, 2009 Report Share Posted February 25, 2009 Hi all, I have been holding a deposit of £845 for the last 6 years in what has become a dormant account. (This is before Protected Deposits) The tenants are moving on as they need a larger place. I expect them to get all their deposit back as they keep my place immaculate and we have no 'issues'. Would you give them any interest or just the straight amount back? All thoughts welcome. Mortitia Link to comment Share on other sites More sharing options...
Melboy Posted February 25, 2009 Report Share Posted February 25, 2009 You are under no obligation to pay any interest on rent deposit held by you. It should say words to that effect in your AST but even it doesn't then you still do not have pay interest.......and I wouldn't...... and I also have a long term Tenant and he is well aware of the 'no interest' clause on deposit money. Mel. Link to comment Share on other sites More sharing options...
Chestnut Posted February 25, 2009 Report Share Posted February 25, 2009 I agree, no obligation. To justify yourself keeping interest you might note that were deposit with DPS (as now) the interest would be non-recoverable because it's used to pay for DPS administration. How about a card and a big bunch of flowers to their new home with note of thanks for looking after your property so well? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.