Lodging and Reclaiming Tenants Deposits
Under the 2004 Housing Act and the Localism Bill which came into force in 2012 there is an obligation for landlords to have their tenants deposit protected.
What a number of landlords are unaware of is that failure to protect the deposit within 30 days of it being paid will result firstly a liability for the landlord to pay to the tenant a sum equal to up to three times the deposit but also the landlord is not able to terminate the tenancy unless there have been substantive breaches of the tenancy conditions.
Under the Localism Bill the liability can continue even after the tenancy has been brought to an end.
Landlord Assist provide a service whereby we will lodge the deposit in accordance with the regulations and provide the tenant with the required prescribed information. At the end of the tenancy, at no extra charge, we will arrange for the reclaiming of the deposit.
In tune with our ongoing innovative nature we were the first nationwide service provider to offer this service to our Clients.
RECLAIMING POTENTIALLY DISPUTED DEPOSITS
The statistics show that when deposits are challenged by tenants, professional assistance is certainly advisable. A recent survey shows that just 8% of disputed deposits are returned to the landlord whilst 49% are awarded to the tenant.
We have access to a service which will handle the deposit dispute resolution service maximising the chances of success for the landlord. Our Colleagues will attend to the drafting and submission of your claim for the deposit for a very competitive £120.
Landlords or Letting Agents can simply send us the evidence that we request and a breakdown of the claim. We will then use the latest information management software to analyse the claim and send you back a completed statement and evidence bundle.
Our specialist knowledge of how and why deposit claims are decided can help you get the money you deserve.
Professional advice could really be the difference between you receiving the deposit and the tenant walking away with it. Why leave the handling of the deposit reclaim to chance?