Has Holding Deposit turned into Security Deposit?
I’ve taken a deposit of £400 from a tenant in order to ‘secure’ a room for her (a holding deposit). That was two months ago. She’s re-scheduled moving in several times. She’s now decided not to take the property.
The Holding deposit was then to be set against the Security deposit (which happens to be the same amount) and protected with the DPS within the 30 days. It was protected as she was due to move in, thus becoming the Security Deposit.
No contact has been signed.
Where do I stand – I’m guessing it’s likely that the DPS will see this as a Security Deposit, which, as she has not moved into the property or signed the contract, there’s no rent arrears or damage to the property.
Many thanks
Angela
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Member Since March 2015 - Comments: 225
3:38 PM, 21st December 2015, About 10 years ago
Reply to the comment left by “money manager” at “21/12/2015 – 12:03“:
Apologies, the second “former” should obviously reaad “latter”.
Member Since August 2015 - Comments: 40
1:24 PM, 22nd December 2015, About 10 years ago
I know it is a nuisance but at the end of the day it is only £400. Not worth the agg just give it back to her and move on. That is what I would do.
Member Since August 2018 - Comments: 3
11:30 AM, 4th August 2018, About 8 years ago
Hi. I hope someone can make it clear for me. I found a room on Zoopla. The agent showed me the room and ask me if I want changes in the room. I asked for a repaint as it was dirty, and he promised to change mattress as well. What if this promises wont come true? Can I get my Security Deposit back?
Ive got a “Room Offer Confirmation” saying all total fees. I paid Security Deposit.( it says Sec.Dep) On the paper was different company name from the receipt. Only Me signed the paper. Also 12 month with 4 month break clause and 2 months notice period. Is that mean after 4 months I have to give 2 months notice period or Can I give even after move in my notice if things won’t work out? How can I make sure everthing is by the law and I can have my rights If something goes wrong? Hope I am clear? Thanks
Member Since October 2013 - Comments: 248
2:15 PM, 4th August 2018, About 8 years ago
It sounds like you haven’t moved in yet?
That the agent asked you if you wanted changes is encouraging, but you could ask for written confirmation (before you move in) that this will be done. Still not a guarantee though.
Will the landlord live in the house? If s/he does you are a lodger, and have less rights than if s/he doesn’t, in which case you are a tenant. Tenancy are usually an “Assured Shorthold Tenancy”, (it should say in the agreement, or ask the agent) which commit you to a 6 month stay, and you have to give at least one months notice.
Member Since August 2018 - Comments: 3
11:40 AM, 5th August 2018, About 8 years ago
Thank you, John, for the useful info. No, I haven’t moved in yet. As I know landlord doesn’t live in the property as it is managed by the agency. My ‘Room Offer Confirmation” says 12 months with
4-month break clause and 2 months notice period. So is it means I definitely need to stay at least 6 months right? Thanks
Member Since October 2013 - Comments: 248
2:30 PM, 5th August 2018, About 8 years ago
Yes, 6 months if it’s an Assured Shorthold Tenancy, which it’s 99% likely to be. The landlord has to give 2 months notice but, like you is committed to a minimum of 6 months.
The term can be less than 6 months, and the notice less, but only by mutual agreement. Like many aspects of life, things go a lot easier if there is trust between the two parties.