I forgot to pay my Deposit into a scheme!!

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    I forgot to pay my Deposit into a scheme!!

    Hi.
    I am very stupid as I forgot to pay my tennants deposit into a deposit scheme. The AST started in Nov 07 and finishes in Nov 09. The reason that I didn't pay it in was that there was an inital problem in getting the deposit back from the Letting Agent and the tennant.

    I want to do the right thing and pay it into the DPS, but I am worried that the tennants will seek legal help in claiming a fine of three times the deposit from me. At the moment my tennants are slow payers, but generally good.

    Can any one advise me on what I should do please?

    Pay into the DPS now!
    or
    Just wait until the AST finishes!

    Regards
    Pugwash

    #2
    Best way forwards: repay whole deposit (no deductions) AT ONCE.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

    Comment


      #3
      I agree that doing nothing isn't an option.

      But if he pays it in to a scheme now, ie long before T has even given notice to quit or there's any problems with the relationship, surely he'd be pretty safe from the 3X penalty, if T suddenly raised this as an issue in many months time?

      It's surely a bit different to the scenario where an errant landlord pays into the scheme as a knee-jerk reaction to being challenged on it?

      Comment


        #4
        Definatley pay it into the scheme. If they find out it wasnt protected, they will find out, whether its now or when the tenancy expires. And better now, than when they want their money back, and start thinking you are a dodgy landlord.

        I would even send them a letter and apologise for not having done it sooner and for them to rest assured their money is now protected.

        And its a lot better for a judge to see that you have done it, without being pushed by the tenant, and as it happens judges have been ruling that a LL is seen to have complied with the TDS if the money is deposited late, as long as it is deposited.

        Comment


          #5
          Originally posted by Ericthelobster View Post
          I agree that doing nothing isn't an option.

          But if he pays it in to a scheme now, ie long before T has even given notice to quit or there's any problems with the relationship, surely he'd be pretty safe from the 3X penalty, if T suddenly raised this as an issue in many months time?

          It's surely a bit different to the scenario where an errant landlord pays into the scheme as a knee-jerk reaction to being challenged on it?
          Yes, but OP asked what to do for fear that T might claim the 3x.

          Originally posted by pugwash View Post
          I am worried that the tenants will seek legal help in claiming a fine of three times the deposit from me.
          JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
          1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
          2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
          3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
          4. *- Contact info: click on my name (blue-highlight link).

          Comment


            #6
            Thanks for your input.

            I will pay it in asap and I think that sending a letter to T is also a good idea.

            Thanks

            Comment

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