Deposit Compliance

[Paul Bardsley]

Hi Property Hub members…….

 

I’m after a bit of advice with reference to Deposit Compliance

 

I used the My/Deposits system to protect the tenants deposit and when complying with the landlords legal obligations defined in (g) (vi) Order 2007 to: “outline the circumstances in which all or part of the tenancy deposit may be retained”. (I attach the Prescribed Information Order for reference)

 

My thoughts were to make reference to the clause in the AST which outlines why the deposit was taken, (see attached "Doc2) but not sure if this is right or if a more elegant solution is available….

 

My question to the Property Hub faithful:

 

How do you comply with this requirement…. Any screen dumps or pdf’s would be useful (of the key elements) – obviously avoid showing anyone the tenant’s names and address…..

 

I would appreciate your assistance in this matter

 

Regards

Paul

Doc2.docx

mydeposits Prescribed Information Order.pdf

[Tim Wragby]

Paul

 

Tenancy Deposit Prescribed Information is critical to get right or it can be costly - up to 4 times the deposit value if the court deems it and also a Section 21 notice is invalid until properly issued.  This includes the pedantry of having the terms and conditions attached to the PI given to the tenant. I have attached a section of our tenancy agreement + the blank PI form we use from the DPS as theirs is much easier to use.  They also have easy to follow prescriptive instructions of what to give the tenant.

 

As a belt and braces approach I also get the tenant to sign that they have received copies of all the relevant information so that they cannot say they did not receive it and keep the copy on file.

DPS PRESCRIBED INFORMATION.doc

Move-in Signature sheet.doc

Segment of Tenancy Agreement.docx

[Paul Bardsley]

Thanks Tim, I thought I posted a reply already but alas..... It seems my understanding of forums is still some what lacking...... Thanks again I appricate your assistance, fingers crossed I get it right