My Deposits ruling – No wonder landlords are selling up?
Yet another reason to sell up. My deposits have just ruled that unless a landlord has a court order they cannot be awarded money from a deposit to pay towards legal costs!
My Deposits has awarded in favour of my ex-tenants by giving their money back even though they withheld rent twice over 2 years, were in arrears and I had to get legal advice and help to get them to pay and eventually evict them.
I had claimed these costs from their deposit but was not allowed to keep the money.
I am bringing the ruling from MyDeposits to the attention of fellow landlords as a warning.
I have since sold the property and plan on selling more as the tenancies expire.
Zeph
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Member Since February 2021 - Comments: 3
1:07 PM, 16th February 2023, About 3 years ago
There is very little point in asking for a rent deposit as far as I can see . Any tenant with ill intentions will merely miss their final months payment so they have effectively taken back their rent deposit anyway. As I understand it If you do take a rent deposit and make any error in the paperwork you could be fined up to three times the rent deposit and lose the original rent deposit as well. There are plenty of ambulance chasing firms who will gladly take the case on free of charge for a tenant. If there is a dispute to be adjudicated by mydeposits.com or whoever the cards are stacked against the landlord any way. If the disputed amount is not significant is it worth the time and effort ?
Member Since February 2023 - Comments: 1
9:23 PM, 16th February 2023, About 3 years ago
If you ask the judge to include deposit in possession claim it will be returned no questions asked
Member Since February 2023 - Comments: 1
11:05 PM, 16th February 2023, About 3 years ago
Why did they withhold the rent?
Member Since June 2018 - Comments: 5
8:36 AM, 18th February 2023, About 3 years ago
Reply to the comment left by Ron at 16/02/2023 – 06:39
Hi Ron, thanks for your reply, yes there is such a clause and I will look into taking your advice.