Richard Peeters

Registered with Property118.com
Friday 22nd November 2013


Latest Comments

Total Number of Property118 Comments: 109

Richard Peeters

12:24 PM, 18th May 2019
About 5 days ago

Best Deposit Protection for disputes?

Guarantors: hmmm... we used them routinely when we previously did student lets, but maybe this could be a good approach even for working tenants? At least we would have TWO people to pursue, and there might be some sense of honour for the tenant not to let down the guarantor? If the prospective tenant had no family or friends willing to go guarantor, would this send landlord's alarm bells going?

Having said that, I would not want to be guarantor for anyone unless I could limit it by time and amount (e.g. max 12 months, max 2 months' rent), otherwise it would be a blank cheque (the identical blank cheque that the landlord might be facing if there were no guarantor).... Read More

Richard Peeters

8:30 AM, 18th May 2019
About 5 days ago

Best Deposit Protection for disputes?

Another method might be Card Payment, but this has drawbacks/risks too. Hotels taking Card Authorisation upon check-in (rather than actual payment), to get the card confirmed. However, the card may have expired by the end of the tenancy (less risk for hotels), or the tenant might intentionally cancel the card, or the damage is way above the tenant's credit limit at the time you need to take payment.... Read More

Richard Peeters

8:19 AM, 18th May 2019
About 5 days ago

Best Deposit Protection for disputes?

Reply to the comment left by Michael Barnes at 18/05/2019 - 00:58Hi Michael, I like this idea, although if there are real damages to deduct, and they have stopped paying at the penultimate period, then we still have nothing to hold back to cover the damages.
What happens if the tenant sets up a standing order and "forgets" (could be genuine) to stop it for the last month of the fixed term? Is it then considered a Deposit by default, or not if we refund it immediately (with a letter referring to their "error")? And what happens if the tenancy rolls over? Do we need another clause in the AST to say that the extra month's payment rolls over too, until the last month of the (periodic) tenancy?... Read More

Richard Peeters

17:12 PM, 17th May 2019
About 6 days ago

Best Deposit Protection for disputes?

Reply to the comment left by Michael Holmes at 17/05/2019 - 17:00
Michael, you might want to double-check (as will I) the rules on Deposits. I understood that taking an extra month in advance is considered the same as taking a deposit and/or it could be considered a Prohibited Tenant Fee (new rules from 1 June!)?

Has anyone studied this carefully?... Read More

Richard Peeters

11:24 AM, 17th May 2019
About 6 days ago

Best Deposit Protection for disputes?

Reply to the comment left by Lesley Clarke at 17/05/2019 - 10:35
Hi Lesley, we have long ago come to that question: is it worth the bother? We consider one benefit is for tenants to have the "potential threat" of losing their money. In practice, it's only the ethical/responsible tenants who would have such fear, and generally they are the ones who would acknowledge their own fault anyway. The types who "know their rights" and aggressively assert them tend to play the system and get all their money back. Another benefit is that, where the prospective/incoming tenant claims that the Deposit is a real financial barrier, then it flags up even before the tenancy begins, the matter of "fragile finances" (and this might cause landlords to avoid those who can't afford the extra five weeks' rent (new maximum Deposit)). The main downside: getting the Deposits wrong disables the S21 possession route.... Read More