New AST with Nil Deposit - A Question

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

    New AST with Nil Deposit - A Question

    Hello all,

    I am a new Landlord (6 months) and rented my property to a tenant who has recently gone onto benefits (relationship breakdown).

    I initially took an £800 deposit in December 2006 and due to relationship problems the tenant has run up arrears of £1100.

    Due to the circumstances, I'm prepared to lower the rent as her children are set up in school and don't wish to see her moved on.

    We have agreed that the £800 deposit will be used to pay part of the arrears and as I need to issue a new AST for the new rent, do I need to issue a deposit agreement for a Nil amount ?

    I ask this because as she is now on benefits, the council need a copy of the new paperwork.

    Also, as there is no deposit I assume that this makes me exempt from a TDS.

    #2
    No Deposit

    If you don't take a deposit you don't need to enter the Tenancy Deposit Scheme - it's as simple as that. So there's no need for a "Deposit Agreement"

    Comment

    Latest Activity

    Collapse

    Working...
    X