not protected deposit

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  • #16
    You could apply for Court Order to access Property for essential roof repairs (danger to Public)
    I am concerned OP has no money to repay deposit, le alone roof repairs, and is living in her van.
    Perhaps consider selling at sig discount, even to T if mortgage can be obtained.
    OP should re-assess being a LL.

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    • #17
      Hi
      Thank you all for your help, i will see if tenant lets me in today, if not try for another day and time to suit them and ride it out somehow until may 18
      Thank you for your concern at my predicament, but believe me im in a much better place now, things happen and all i can say is life is great
      i will let you know how things turn out

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      • #18
        Originally posted by sansukie View Post
        Hi
        Thank you all for your help, i will see if tenant lets me in today, if not try for another day and time to suit them and ride it out somehow until may 18
        Thank you for your concern at my predicament, but believe me im in a much better place now, things happen and all i can say is life is great
        i will let you know how things turn out
        Met with the tenant today all things ironed out, hopefully continue until 6 years are up. what is a reasonable amount to up the rent, does it work on a percentage ?

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        • #19
          I'm pleased you got access and are building bridges.

          Is there anything in your tenancy agreement about a rent review or any percentage Given?

          What is the market rent for a similar property in that area? You can use this as your guide but if the increase is massive then tenant may object and force eviction which you obviously don't want.

          Do they receive housing benefit and can they afford an increase?

          Under your circumstances I'd be tempted to discuss a rise with the tenant and reach a mutual agreement.

          Whatever you do though you mustn't issue a new AST as the clock for penalty will begin again

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          • #20
            Originally posted by Wright76 View Post
            Whatever you do though you mustn't issue a new AST as the clock for penalty will begin again
            I'm sure OP would protect correctly...

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            • #21
              I dont think they could actually protect it at all now though jjlandlord without being liable for penalty again?

              Deposit was taken way more than 30 days ago and so Pi could not be issued in time. Or are you suggesting superstike case might apply where it's a deemed deposit and protected on time if a new AST is given?

              I wouldn't take any risks. The whole protection scheme seems to set landlords up for a penalty. With so little time left I'd be tempted to avoid an AST and avoid any doubt

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              • #22
                Originally posted by Wright76 View Post
                Or are you suggesting superstike case might apply where it's a deemed deposit and protected on time if a new AST is given?
                Well, of course.

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                • #23
                  That sounds great in theory as tenants would be quick to claim if a deposit wasn't protected on renewal, but I'm not confident they wouldn't use the 30 day thing etc etc if it was protected late, all be it on a different tenancy.

                  It seems to me a landlord is doomed if they do and doomed if they don't.

                  The whole thing is a joke. Like there is no punishment for the OP if he gets to next year, even though the tenant will have no access to arbitration. Yet, a landlord that protected deposit before tenancy ended so tenant cannot possibly lose anything is liable for possibly multiple penalties.

                  The argument that landlord could go bust mid tenancy doesn't work for me. If that was the case the tenant could live rent free to recoup deposit until evicted so will never lose their deposit.

                  It would be simpler If it were a simple matter of a penalty applying If deposit was not in a scheme when the tenancy ended. The only benefit I can see from the current system is that the schemes are making a fortune in interest banking everyone's deposit!?!

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                  • #24
                    A deposit of £1000 invested at 4% pa would generate £40 interest pa. Schemes have basic operating costs + requirement to provide ADR for all.
                    Let me know of any Ins-based Schemes that charge <£40 for an Annual Premium.
                    Up to LL to choose Scheme to use, based on current T&Cs

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                    • #25
                      Originally posted by mariner View Post
                      Schemes have basic operating costs + requirement to provide ADR for all.
                      And they receive millions directly from the government.

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                      • #26
                        Originally posted by Wright76 View Post
                        Whatever you do though you mustn't issue a new AST as the clock for penalty will begin again
                        That i will NOT do, im so grateful you told me that, i asked the tenant for her old agreement and she said she doesnt have it anymore as its been 5 years since it was renewed

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