14:57 PM, 4th January 2021, About 3 years ago 12
My tenant paid their cash deposit at the start of the contract in July 2004. This was never protected (only tenancies signed after April 2007 need the deposit to be protected), and the contract has remained the same – no amendments, no updates etc.
The rent has increased over time, so now I think it is about time the deposit needs to reflect the current 5 weeks rent/deposit basis.
I assume if she pays the difference up to the 5-week max, I now need to protect the lot in a protection scheme. Not an issue, but clearly the date the contract started and when the initial deposit was paid is years different! Is this going to be an issue?
Do I use the date that the top-up deposit is paid to me and when I deposit ALL the money in the scheme as the deposit start date?
Or is it better to do nothing at all and not increase the deposit (she is a perfect tenant and looks after the place lovely) and leave things as they are?
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