New TDS - wording for contract??

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  • New TDS - wording for contract??

    Hi
    Am just about to sign my first new contract since the new deposit stuff came in ....
    Am just wondering if anyone has a 'great new paragraph'(!) to insert into the AST which covers using the new deposit scheme??
    I know there is a leaflet which I have downloaded from the depositscheme website which I intend to give to my new tenant ... however, I am wondering if there is a 'best way' to put this into the contract?
    I had a mail from the scheme itself after I first registered with a suggested paragraph .... but they subsequently retracted it!! Doesn't fill me with much confidence that anyone knows what's going on!!

    Also, has anyone added anything extra to cover themselves as to what they can deduct from the deposit at the end?
    I am thinking that I want to clearly state that eg damage, cleaning charges, owed rent etc will be deducted from the deposit, since there seems to be some ambiguity as to whether these are automatic deductables....

    Has anyone else done this?Any advice on this much appreciated
    Many thanks

  • #2
    Originally posted by Wickerman
    I used their last email that mentioned AST wording as a reference - it fitted in just nicely into the contract where it used to mentioned the deposit was held as agent for the landlord (just took that part out and inserted the new phrasing).

    9.3 The Deposit
    the following terms relate to the Deposit:

    9.3.1 The deposit shall be repaid to the Tenant
    (no interest payment will be payable to the Tenant) at the end of the Term but only once the Tenant has fully vacated the Property and paid all sums due under this Agreement and subject to the provisions of this clause 9.3.
    Is this right?? I thought interest is paid to the tenant aswell!
    Ambition is Critical

    I don't profess to be a knowledge in all areas, my advice is based on life experience.

    Comment


    • #3
      I paid for and downloaded and AST from a website that apparantly conforms to the new legislation. I've also drafted my own section 213 notice that I got the tenant to sign aswell just to prove that I have issued it.

      Apparantly if you don't issue a section 213 notice within 14 days of receipt of the deposit you cna be fined up to 3 times the amount of the deposit and a section 21 notice would be invalid if issued.

      I asked the DPS to send me a leaflet but they never sent me one so I just included the terms and conditions that I got from their website and included them in my section 213 notice.

      I will also be doing an inventory but will go through this with the tenant when they move in along with the tenant check in form as the property is not empty at the moment.

      I'd be happy to email you the AST I used.

      Comment


      • #4
        Originally posted by J4L View Post
        Is this right?? I thought interest is paid to the tenant aswell!
        Normally. Though only if the tenancy agreement is silent about interest. If it says the landlord, then then landlord gets it.
        On some things I am very knowledgeable, on other things I am stupid. Trouble is, sometimes I discover that the former is the latter or vice versa, and I don't know this until later - maybe even much later. Because of the number of posts I have done, I am now a Senior Member. However, read anything I write with the above in mind.

        Comment


        • #5
          Originally posted by Wickerman

          9.3.1 The deposit will be protected by The Deposit Protection Service (The DPS) in accordance with the Terms and Conditions of The DPS. The Terms and Conditions and ADR Rules governing the protection of the deposit including the repayment process can be found at www.depositprotection.com.
          Ideally you should keep your AST clean, and I would suggest that as a s213 notice has to be given to the tenant, that a simple reference to this would suffice.


          9.3.1 The deposit will be protected according to statute. The terms and conditions (called the "prescribed information") regarding the protected deposit shall be notified to the tenant within 14 days. It is a non-negotiable term of this agreement that the tenant shall within 14 days acknowledge in writing having received the prescribed information.
          I have highlighted in bold about an important element to our current AST. Statute places a mandatory duty on landlords to provide the "prescribed information" within 14 days, but only a request for the tenant to acknowledge receipt.

          I consider this places the landlord at a significant disadvantage should relations break down in the future. If a tenant later decides to complain that they never received the prescribed information and goes to court, my understanding is that the landlord might still be liable for a penalty of 3 x deposit - whether or not protection has occurred.
          On some things I am very knowledgeable, on other things I am stupid. Trouble is, sometimes I discover that the former is the latter or vice versa, and I don't know this until later - maybe even much later. Because of the number of posts I have done, I am now a Senior Member. However, read anything I write with the above in mind.

          Comment


          • #6
            Originally posted by Esio Trot View Post
            Normally. Though only if the tenancy agreement is silent about interest. If it says the landlord, then then landlord gets it.
            I was under the impression that both parties get it regardless of how it reads in the AST?

            How can you disregard the Tenant in this way?
            Ambition is Critical

            I don't profess to be a knowledge in all areas, my advice is based on life experience.

            Comment


            • #7
              Interest paid to tenants/landlords

              You are quite correct, interest will be paid at the end of the tenancy to whoever receives the deposit. This is a statutory obligation placed on the Deposit Protection Service and will overide anything written in the AST.

              Comment

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