Money Drawer

Tenancy deposits

A tenancy deposit is a sum paid by the tenant that must be legally held in an officially recognised deposit scheme for the duration of the tenancy. It is used to guard against: damage to the property, unpaid rent and other unpaid costs that are the tenant’s responsibility. Top Tips: Register your tenants deposit or you could be fined 3 times the deposit amount. Get an inventory of... Read more

Posted by Simon @ Upad on May 25th, 2012 in Legal, Tenancy Deposit Scheme, Tips for New Landlords

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Tenancy deposit (case study)

Tenancy deposits are used to secure against unpaid rent, damage to the property, or unpaid utility bill. If there is a dispute over how much of the deposit should be returned to the tenants, it is referred to the Tenancy Dispute service. Here is a typical case: A garden was left in an "unsatisfactory" state at the end of a tenancy, with weeds, overgrown plants and long grass. A clause in the... Read more

Posted by Simon @ Upad on April 26th, 2012 in Tenancy Agreements, Tenancy Deposit Scheme, Tenant Rights

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71% of tenant deposits returned in full

One thing that concerns landlords more than most, is the worry that their property won't be returned to them in a state similar to that which it was let in. New landlords in particular are often concerned that their tenants will trash the joint, rather than look after it. But the latest figures in the English Housing Report suggest that these fears may be overstated by overly jittery... Read more

Posted by Dan @ Upad on August 5th, 2011 in Property Rental, Renting a Property, Tenancy Deposit Scheme

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The tale of two lettings agencies

Two lettings agencies in the UK have been expelled from the Property Ombudsman Scheme. The firms will remain in business; however they will no longer be accredited by the Property Ombudsman. A London-based lettings agent claimed fraudulent benefits in a shocking case. She used her son as a way to gain £10,000 from painful and gruelling medical treatment by claiming he was "desperately... Read more

Posted by Simon @ Upad on April 8th, 2011 in Legal, Property Rental, Tenancy Deposit Scheme, Tenant Rights

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Ask Upad: As a landlord, how can I avoid using deposit protection schemes?

A landlord has been in contact and asks how she can avoid using one of the government approved deposit protections schemes. She says: “I don’t want to use the deposit protection schemes because it’s yet another hassle and bit of paperwork I can do without. For years, I simply kept deposits in my bank account and didn’t have any problems with that. How can I avoid the deposit... Read more

Posted by Dan @ Upad on November 25th, 2010 in Ask Upad, Tenancy Deposit Scheme

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Tenant tips: A design for student living

I was a student once and also rented student digs from private landlords for several years. In fact, even when I started working, I continued living in shared houses for a few years with 3 and 4 friends. Here are a few reflections. Cooperate with your landlord. And do it from day one. It’s a guarantee that something will go wrong at some point and a good rapport with the landlord will be... Read more

Posted by Dan @ Upad on October 12th, 2010 in Tenancy Deposit Scheme, Tenant Rights

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Are you complying with the law on tenants’ deposits?

There are lots of laws and regulations that landlords need to keep up with and some of the case law and important changes don’t always get much publicity. Keeping up with the changes takes a bit of time and interest but it is vital: failure to comply can be a criminal offence and might attract a hefty penalty. One recent event that seems to have passed many landlords by, regards a legal case... Read more

Posted by Dan @ Upad on September 27th, 2010 in Landlord Legislation, Legal, Tenancy Deposit Scheme

The Boss Is Mad

Are landlords really all a bunch of rogues?

Shelter has commissioned some research about what tenants think about their landlords. It makes pretty uncomfortable reading: “1 million victims of landlord scams” shouts the headline... but read a bit further, and it’s not quite so cut and dried. 2,234 tenants were surveyed, and 2% of them said “they had been the victim of underhand practices when privately renting”. Shelter says... Read more

Posted by Sue @ Upad on September 14th, 2010 in Property Management, Property Rental, Tenancy Deposit Scheme