Ian Narbeth

Registered with Property118.com
Monday 8th July 2013

Location
London

Trading Status
Joint

Providing essential rental accommodation since
1989

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 694

Ian Narbeth

10:58 AM, 23rd May 2019
About 21 minutes ago

Watch those pennies or it could cost you dear!

Reply to the comment left by Annie Landlord at 23/05/2019 - 10:47Annie
I am doing my best to warn landlords so they don't get caught out. I don't think the lawyers will earn fees arguing about a few pence (unless someone takes a test case to appeal). It will be landlords ambushed at the door of the court because 9 months ago they took 8 pence too much holding deposit. Even though full credit may have been given for it, the law says the landlord has to "repay" it to the tenant, who then immediately owes that amount to the landlord. Tell your MP that he or she is a fool for voting for this nonsense.... Read More

Ian Narbeth

10:52 AM, 23rd May 2019
About 27 minutes ago

Watch those pennies or it could cost you dear!

Reply to the comment left by Hamish McBloggs at 23/05/2019 - 10:19Hamish
Tenancy deposits, taken when the tenancy is entered into, will be limited to five weeks' rent (or six weeks' rent where the annual rent is £50,000 or more). My piece is about "holding deposits" (what I used to call reservation fees or reservation deposits) taken when the parties agree in principle and the landlord takes the property off the market and checks references etc. before signing the AST.... Read More

Ian Narbeth

16:51 PM, 22nd May 2019
About 18 hours ago

Watch those pennies or it could cost you dear!

Reply to the comment left by Luke P at 22/05/2019 - 16:43
It wouldn't have killed the draftsman to add "rounded up to the nearest whole pound" but that would not have set another trap for landlords.... Read More

Ian Narbeth

15:52 PM, 22nd May 2019
About 19 hours ago

Watch those pennies or it could cost you dear!

Reply to the comment left by Luke P at 22/05/2019 - 15:30
Hi Luke
Yes, the official method is as I have described. Paragraph 3 of Schedule 1 to the Act says:
3 (3) If the amount of the holding deposit exceeds one week’s rent, the amount of the excess is a prohibited payment.
3 (4) In sub-paragraph (3) “one week’s rent” means the amount of the annual rent payable in respect of the tenancy immediately after its grant, renewal or
continuance divided by 52.

Effectively it's as if a year had 364 days as 12/52 is the same as 12x7/364.... Read More

Ian Narbeth

15:42 PM, 22nd May 2019
About 20 hours ago

Tenant Fees Act 2019 – Elephant trap for the unwary!

Reply to the comment left by Michael Barnes at 21/05/2019 - 00:44
Michael
If you are thinking about the 30 days to serve the Prescribed Information form and protect the deposit I don't think you are correct. The holding deposit does not become part of the tenancy deposit until it is "applied" towards the tenancy deposit.

There is the further difficulty that if a landlord wants rents paid on first of the month and the tenant moves in at the end of a month, the landlord may only collect pro rata rent for, say, 5 days plus one month's deposit. A holding deposit equal to one week's rent will be greater than the rent due.... Read More