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Wednesday, March 28, 2018

Proposed deposit cap - down to 5 weeks

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Cash Buyer said...

Yet more pointless posturing legislation that doesn’t examine the logic and functions purely on hype. It, again, assumes that all landlords are bad and that all tenants are victims. The question is - why would a landlord want or need to raise the deposit to 6 weeks? It is not because they want to hold onto the moment and put it into a 0.2% savings account!!! It is because they have expensive items/white goods in the property and/or previous tenants have caused expensive damage. If the deposit doesn’t cover the damage, it’s the landlord’s loss. No tenant has ever come back to me and offered to hand over more money for the damage or rentloss that they caused. They scarper, ne’er to be seen again. So, higher deposits are a reality for good reason. Meddling from witless politicians only causes distortion and perversity.

Anonymous said...

I have never had any problems with good tenants and frequently returned all the deposit except for a minimal amount for carpet cleaning. Bad tenants are completely different (about 1 in 20). It has cost over 8 weeks deposit to remove the rubbish, broken beds and furniture beyond repair. Replacing carpets due to dog is common, the carpet and the underlay needs replacing. Then they scarper without forwarding address and I get to deal with the bills from Parking Fines to Council Tax. Return to sender only goes so far and after 2 or 3 months it is time to make sure nobody comes round to disturb the new tenants.

Stephen from Manchester said...

@anonymous. You never ever have to pay tenants' parking fines or council tax bills. In the unlikely event that a debt collector does come round when the new tenant happens to be in then the new tenant just needs to tell them the old tenant no longer lives there. It's that simple.