Deposit Changes and Pet Bonds

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

    Deposit Changes and Pet Bonds

    Hi Everyone,

    I'd be grateful of a little advice. I'm about to let a property from the second of June , the new tenants have a cat so my usual process would be to increase the bond by £100 and to declare this as a pet bond to be used should the pet cause any damage. The tenants are fine with this but it did occur to me that this additional sum will mean the bond/deposit is then equivalent to more than 5 weeks rent. Is this legal or would this potentially put me in violation of the new rules re bond / deposit size ?

    Thanks

    Grim

    #2
    Nah, AFAIK you cannot increase deposit amount for pets.

    I suggest you charge £25 per month extra rent.

    Comment


      #3
      As stated above, you cannot now charge extra for a pet or more than 5 weeks deposit. £25 per month extra on the rent is a lot to pay for 1 cat and if you have already agreed a rent with your tenant you probably can't put it up now. The tenant fees ban does not stop you from charging for damage done by the pet so I would just ensure you have stated in your tenancy that any damage will be charged for & ensure your inventory is extremely accurate - cats can scratch at carpets at closed doors for example. The chances of 1 cat doing a lot of damage is fairly low so you should be ok.

      Good luck

      Comment


        #4
        However, someone will come along when you try and claim for pet damage, and say that the damage you have sustained is fw&t for a tenancy you knew would have a cat.

        Ask for the extra up front IIWY.

        Comment


          #5
          Originally posted by JK0 View Post
          Nah, AFAIK you cannot increase deposit amount for pets.
          If you and the tenant sign the agreement before June, then you can still take the extra deposit (S30(1)(b) Tenant Fees Act).

          Comment


            #6
            Just increase the rent - I think this has to go one way or the other when the risk is high and you are prohibited from collecting a non-negligible deposit. A big rent increase and no deposit at all (pet or otherwise) is what I would do. Perhaps increase the rent by £200/m for the first 6 months, and then reduce the rent by £100 after that, and again by another £100 at 1 year. So £1800 extra rent in the first year and no deposit.

            Comment


              #7
              Originally posted by jpucng62 View Post
              cats can scratch at carpets at closed doors for example. The chances of 1 cat doing a lot of damage is fairly low so you should be ok.
              Good luck
              Actually in a partly furnished decent property the chance of "massive" (however you define) damage is -- well -- massive. Could require complete re-curtaining and re-carpeting and more to bring back to standard. Of course if it is a farmhouse the damage may be different.

              Comment


                #8
                Originally posted by AndrewDod View Post
                Perhaps increase the rent by £200/m for the first 6 months, and then reduce the rent by £100 after that, and again by another £100 at 1 year. So £1800 extra rent in the first year and no deposit.
                That's illegal under schedule 1, paragraph 1(2) of the Act: http://www.legislation.gov.uk/ukpga/.../1/paragraph/1

                Comment


                  #9
                  Originally posted by AndrewDod View Post
                  Perhaps increase the rent by £200/m for the first 6 months, and then reduce the rent by £100 after that, and again by another £100 at 1 year. So £1800 extra rent in the first year and no deposit.
                  Don't do that, it's not legal anymore (Tenants Fees Act).

                  Beaten to it!
                  When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
                  Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

                  Comment

                  Latest Activity

                  Collapse

                  Working...
                  X