Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
I’m asking this question for a friend of mine who is now having problems with tenants who have now left the property.
My friend had work in Singapore for 6 months so rented out his flat. Everything was fine and he had a really good relationship with the tenants. What he failed to do was register the deposit straight away. He did eventually register it around 3 months after they moved in.
At the end of the tenancy the girls moved out, the property was spotless and he gave them their deposit back in full. Now 1 month or so after they have left, he has received a letter from their solicitor threatening to take him to court because he didn’t register the deposit within 30 days and are asking for 3 x the deposit amount.
My questions are, is this something to be worried about, how much trouble is he in and what does he need to do?
Thank you in advance for your help.
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