How much deposit can be taken

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

    How much deposit can be taken

    Is there any legislation stating how many weeks/months deposit can be taken on a property?

    #2
    Originally posted by Newmarket View Post
    Is there any legislation stating how many weeks/months deposit can be taken on a property?
    Not that I know of. Prospective LL can ask for however much he likes and prospective T can choose to refuse or agree.

    Comment


      #3
      I'm just reading HOUSING ACT 2004 - SECTION 214-217: SCHEDULE 10
      TENANCY DEPOSIT SCHEMES.

      Because as I now understand it the act has 'omitted' to mention who should be responsible for paying for the scheme and as a result of this, this is why my agents feels that he can pass the expense on to me, the prospective tenant.

      During reading this 23 page document (I am very nosy) I have come accross a section that reads, and I quote: 'It is common practice for landlords to requre a deposit (usually equivalent to one month's rent (but no more than 2 months rent)'.

      I just wanted clarification if this is just a comment in the document or rather if it is legislation not to take more than 2 months deposit?

      Comment


        #4
        Originally posted by Newmarket View Post

        During reading this 23 page document (I am very nosy) I have come accross a section that reads, and I quote: 'It is common practice for landlords to requre a deposit (usually equivalent to one month's rent (but no more than 2 months rent)'.

        I just wanted clarification if this is just a comment in the document or rather if it is legislation not to take more than 2 months deposit?
        Explanatory notes are not statute. I am not aware of any statute which dictates or restricts the deposit amount (happy to be corrected if wrong) - it is certainly not mentioned in the deposit protection law. See s.212-215 Housing Act 2004
        http://www.opsi.gov.uk/ACTS/acts2004..._en_19#pt6-ch4

        Comment


          #5
          Thanks, I am just trying to clarify the situation.

          Upon doing a general internet search, lots of local Government Authorities say that you should not be asked for more than 2 moths deposit. Hackney actually state that it is ILLEGAL. It is in Scotland.

          Comment


            #6
            Originally posted by Newmarket View Post
            Thanks, I am just trying to clarify the situation.

            Upon doing a general internet search, lots of local Government Authorities say that you should not be asked for more than 2 moths deposit. Hackney actually state that it is ILLEGAL. It is in Scotland.
            You are in Scotland and the property is in Scotland??

            If so, be aware that all the advice you've had so far applies to England & Wales only. The law is different in Scotland. For a start, deposit protection doesn't apply in Scotland.

            Comment


              #7
              No. I am not in Scotland. I have just found reference to Scotish Law.

              Upon continuing searching there are several comments to it being illegal in England to ask for more than2 months deposit.

              Check out Advicekit.info/advice - section housing/deposts. (sorry can't figure out how to do links) and tell me what you think. Perhaps I should email them and ask for the relevant section of law?

              Comment


                #8
                Here's the link: Advicekit (site owned by Manchester City Council):

                "Most landlords charge a deposit that is the equivalent of one month's rent. It is illegal for a landlord to charge more than the equivalent of two month's rent."

                Which I would say is incorrect, for AST's in England or Wales.

                Note that at the base of the page it states:

                "Information Provider: Manchester Advice
                Date Written: 18/9/08
                This information is for guidance only and is not an authoritative statement on the law. Please read our Terms and Conditions."



                Better: to take the correct legal advice, instead of looking for random links on the internet (a lot of info. is inaccurate).
                The information in my posts is provided 'as is'. This is not intended to be legal advice. Legal or other professional advice should be sought before acting or relying on this information or any part of it. I will not be held responsible for loss or damage arising from errors in the information or the way in which a person uses the information on this . For more information on your query use the '' link at the top of this page. Agreements, Forms & Notices can be found .

                Comment


                  #9
                  I think I've found something which may shed some light... s.15 Housing Act 1988

                  http://www.opsi.gov.uk/acts/acts1988...-ch1-pb3-l1g15

                  As a layperson, what this appears to me to say is that it is not 'illegal' to take more than 2 months deposit, but, if LL does take more, it gives the tenant the right to assign or sublet. Professional legal opinions needed!

                  Comment


                    #10
                    Originally posted by Newmarket View Post
                    No. I am not in Scotland. I have just found reference to Scotish Law.
                    If you're not in Scotland, then there is no point looking at anything to do with Scottish law.

                    Comment


                      #11
                      Originally posted by westminster View Post
                      I think I've found something which may shed some light... s.15 Housing Act 1988

                      http://www.opsi.gov.uk/acts/acts1988...-ch1-pb3-l1g15

                      As a layperson, what this appears to me to say is that it is not 'illegal' to take more than 2 months deposit, but, if LL does take more, it gives the tenant the right to assign or sublet. Professional legal opinions needed!
                      That's correct. The advice given by the local authorities is wrong.
                      Health Warning


                      I try my best to be accurate, but please bear in mind that some posts are written in a matter of seconds and often cannot be edited later on.

                      All information contained in my posts is given without any assumption of responsibility on my part. This means that if you rely on my advice but it turns out to be wrong and you suffer losses (of any kind) as a result, then you cannot sue me.

                      Comment


                        #12
                        I wasn't looking at Scotish Law, my search just took me there initially.

                        With ref to Section 15: 4(c) Housing Act - Does this mean that if my tenancy is 6 months and landlord give me appropriate notice that he wan't the property back at the end of the term but, a week before I am due to leave I am able to legally assign the property to another on a AST for 6/12 months?

                        Comment


                          #13
                          Originally posted by Newmarket View Post
                          Is there any legislation stating how many weeks/months deposit can be taken on a property?
                          I've taken 4 months deposit before. Tenants in my case, had a large family and pets, I was worried about the carpets, they offered a large deposit to secure the property, so it seemed the sensible thing to do. Guess what? When they left, the carpets were in good shape and had been cleaned properly for a change.

                          Comment


                            #14
                            Originally posted by agent46 View Post
                            That's correct. The advice given by the local authorities is wrong.
                            This does not come as a surprise.

                            Comment


                              #15
                              Gambit, you were jolly lucky.

                              The story about the carpets brought back sad memories for me after renting out my home for six months whilst I worked overseas (furnished with cream carpets)

                              Specified no pets: The tenant brought in cats which left me with flea's and I had to dispose of my suite. They also (apparently) rode motor bikes and parked the bikes in the lounge You can immagine the state of the carpets - totally wrecked.

                              Comment

                              Latest Activity

                              Collapse

                              Working...
                              X