How long should you keep tenants rent paying history for?

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  • How long should you keep tenants rent paying history for?

    Good morning

    A tenant who has just moved out of one of our flats has asked for us to give him a breakdown of monies that he paid to our agency when we moved into the property in September 2011. We have changed our database back in 2013, and we do not have any historical information before this point. As this person has moved out and replaced himself on the tenancy, the tenants are working out between themselves as to what his share of the deposit is, but we received the whole amount of the deposit.

    Over the course of the tenancy, there have been many many changes of tenant during that time, and this tenant has been an ever present in the property.

    I'm of the understanding that we do not have to keep record of tenancies older than 24 months, expect for AST's, deposit certs and any other documentation that might be useful, invoices and such? Tenants payment information isn't something that we have to keep, since there where never any financial arrears in the proeprty?

    Can anyone offer a point of view on this please?

    Many thanks.

  • DPT57
    replied
    Originally posted by MarkPropertyManager View Post
    Over the course of the tenancy, there have been many many changes of tenant during that time, and this tenant has been an ever present in the property.
    How exactly have you dealt with that. Individual tenants can't just change during a tenancy. You either have to end the tenancy and begin a new one with the new group or have some sort of deed of assignment between tenants. Otherwise all the tenants who have left are surely still legally responsible for the rent and property? If this is what's happened then I'm not surprised you are now having problems sorting out shares of the deposit. As far as I am aware, they can each claim whatever deposit they paid back from you the Agent!

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  • theartfullodger
    replied
    Originally posted by MarkPropertyManager View Post
    Good morning

    A tenant who has just moved out of one of our flats has asked for us to give him a breakdown of monies that he paid to our agency when we moved into the property in September 2011......
    Thank him kindly for his request but state you are unable to do so.

    IF (sounds like he hasn't yet) he makes a "subject access request"
    https://ico.org.uk/for-organisations...ccess-request/
    then you obviously have to give him all info related to him that you have.

    Leave a comment:


  • AndrewDod
    replied
    As far as I can work out this tenant has a dispute with his co-tenants as to how a deposit refund should be dealt with.

    This was presumably a joint tenancy (in other words he was not named on his own private contract for his own room), -- so there is just a single tenant (i.e. the joint tenant) -- but you or the agent ran a botched bad procedure that allowed the "tenant" to transmute during that time (not good at all).

    It is not up to the landlord to have anything at all to do with how a tenant distributes a deposit within itself. There is only one deposit and one tenant. However YOU have done something odd, creating a stick for backs.

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  • Darth Wookie
    replied
    For HMRC records, no less than six years. For former tenants with no (known dispute), no less than six years. For current tenants, regardless of how long they've been there, I can't see any harm in maintaining records throughout the duration of the tenancy. Unless you are dealing with thousands of paper records, it doesn't take much to keep a file of everything you've done (digital or hard copy). Certainly supports any future dispute and demonstrates to a judge how things have panned out during the tenancy overall.

    Leave a comment:


  • mariner
    replied
    Keep last complete 6 tax years financial records (in case of HMRC investigation). Back up records annually to separate disc or pen drive.

    Leave a comment:


  • wfd_property
    replied
    I would keep every piece of paperwork (personal or business) for the longer of:
    -six years
    -until the agreement ends

    Bank statements I advise never to dispose of.

    Leave a comment:


  • MarkPropertyManager
    replied
    Originally posted by Kape65 View Post
    I'm not completely sure of the question, but you should keep records for tax reasons for up to six years for your own safety, beyond that I don't believe you need to keep anything. I've kept everything for the past 20 years but then I'm a terrible hoarder!
    Thank you, this was out conclusion as well, just wanted to see what other peoples stances are on the subject.

    Leave a comment:


  • Kape65
    replied
    I'm not completely sure of the question, but you should keep records for tax reasons for up to six years for your own safety, beyond that I don't believe you need to keep anything. I've kept everything for the past 20 years but then I'm a terrible hoarder!

    Leave a comment:

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