Deposit not protected in time

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  • MdeB
    replied
    Originally posted by theartfullodger View Post

    Have a degree in sums, but still get things rong.
    Me too. Probably why I'm a pedantic bastard.

    Or possibly because I'm a pedantic bastard.

    Leave a comment:


  • theartfullodger
    replied
    Originally posted by MdeB View Post

    I think you do not understand what "up to 3x" means.

    It does not mean "exactly 3 x"; it means "any amount 3x or less".
    I always meant any amount up to 3x. Have a degree in sums, but still get things rong.

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  • MdeB
    replied
    Originally posted by theartfullodger View Post
    They CAN award up to 3x, but are v unlikely to in the case on the basis of what we've been told.
    I think you do not understand what "up to 3x" means.

    It does not mean "exactly 3 x"; it means "any amount 3x or less".

    Leave a comment:


  • DPT57
    replied
    Originally posted by hybrice View Post
    Don't do it,.let them walk imo.
    There's no guarantee that they won't later sue for a penalty anyway. However, I agree that its sometimes best to let sleeping dogs lie.

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  • hybrice
    replied
    I think the point here is; they MUST award at least 1x the deposit value, at which point it wasn't worth it for the LL for £150 in repairs.

    Don't do it,.let them walk imo.

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  • theartfullodger
    replied
    They CAN award up to 3x, but are v unlikely to in the case on the basis of what we've been told.

    But in Scotland, 3x is I think quite common.

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  • jpkeates
    replied
    Originally posted by MdeB View Post
    They have to.
    That is what the law says.
    I think the point was that it's very unlikely the court would award the maximum in practice for a deposit protected 5 days late.

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  • MdeB
    replied
    Originally posted by ash72 View Post
    I really can't see how any court can award up to 3 times the deposit.
    They have to.
    That is what the law says.

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  • jpkeates
    replied
    For the avoidance of doubt, any penalty is based on a multiple of the value of the deposit, not the rent.

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  • hybrice
    replied
    Given the penalty for not protecting the deposit can be up to 3x the monthly rent + legal costs, just pay the guy his deposit and be very friendly about it.

    If he sues you, then bring the agent into proceedings - or sue them directly afterwards for reimbursement under breach of contract.

    You cannot, however, sue the agent for a financial remedy of a loss you have not yet incurred - as ultimately you're the landlord and liable to the tenant.

    Under the guidance, you'd likely receive a fine of 1-2 months rent, 3 is reserved for the most egregious of breaches. Either way, it's not worth the risk...

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  • theartfullodger
    replied
    Lets not forget the law was changed from 14 tp 30 days after so many landlords & agents complained 14 days was too hard to do a simple bit of admin..

    I do pray my agents are doing their deposit protection right.....

    Leave a comment:


  • jpkeates
    replied
    Originally posted by ash72 View Post
    It being just 5 days late I really can't see how any court can award up to 3 times the deposit.
    I agree that the issue would be at the low end of the scale, but the court can't award less than one times the deposit value as a penalty, even if it wanted to.

    Leave a comment:


  • ash72
    replied
    If it were me, I would first check how much the cumulative costs are and weight it up, if it's £150 I would just write it off down to experience, if it was more than i would follow the process with the deposit scheme, and put in your claim. It being just 5 days late I really can't see how any court can award up to 3 times the deposit. The agent certainly will not pay for it, so better find a new agent for the property unless you decide to DIY.

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  • Codger
    replied
    The agent has been very careless.I hold deposits myself because I do not trust them with my money. But they can be slow handing it over and then you have to chase the deadline.
    All that hassle for a small sum when you are trusting a tenant with a major asset!

    Leave a comment:


  • theartfullodger
    replied
    Is it worth it, for risk of agent informing tenant of their right to sue you for up to 3xdeposit out of spite? I'd not risk it.. Yes I know tenant could sue agent as well.

    Tenant and or agent could be viewing this thread.

    Leave a comment:

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