Deposit issue – paid 2004?

Deposit issue – paid 2004?

14:57 PM, 4th January 2021, About 6 months ago 12

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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?

Reluctant Landlord



Comments

by Steve Masters

20:08 PM, 5th January 2021, About 6 months ago

Reply to the comment left by Smartermind at 05/01/2021 - 14:06
Your right in a way Smartermind, you can't just change the terms of an existing tenancy agreement and call it the same agreement, even if you both agree.
The new tenancy agreement replaces the old one. If both tenant and landlord sign then it's agreed in law. But it needs to be talked through first so that it's agreed by the tenant without bad feeling.

But as Terry said "if it aint broke--dont fix it" might also be good advice.

Reluctant, you need to carefully gauge the situation with your tenant. There is no substitution for good communication.

by DSR

13:04 PM, 6th January 2021, About 6 months ago

Thanks for all the replies. I use this site as a great soundboard! Working in isolation from home means every so often its good to chew the fat and get another take on the situation.

Have decided...to do nothing. She is happy as it is, and we are happy with her. I doubt she will even move on and we have a good relationship so as someone above said 'if it aint broke don't fix it'.
She looks after the place etc. I'm just frightened about the legal implicationof not putting the deposit in a sheme.


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