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Re...""stating that this is the rent.
If when you leave however and providing the tenants haven't damaged anything then the LL will refund equivalent to 2 months rent because he is such a nice chap and the tenants have been ever so good! !""
So you are merely paying them/rewarding them for complying with the terms of the tenancy? If so, have you read 212(8) of HA 2004?
Any LL may choose to refund any rent if he so chooses
It is his money to do with as wishes
There are NO regulations that interfere in that right.
He may refund he may not
No guarantees either way but if a LL states at the beginning of a tenancy that he might refund that could give the tenant confidence to take the tenancy.
In 90% of cases I have always refunded any deposit so I guess I would make voluntary returns.
It is very easy to do
Currently I have just finished collecting the first months rent from a tenant after 6 months
The tenant paid 2 months rent as a deposit
I agreed that the 1st months rent could be paid over the following 5 months in addition to the normal monthly rent and therefore would not be considered to be in arrears
Of course I never used any deposit monies to pay my mortgage!
I'm not allowed to!!
Believe that and you'll believe anything!!
So we now have reached the 7th month with the tenant fully paid up and my having 2 months rent as a deposit.
I could do exactly the same but without an official deposit.
I would just issue a new AST
The extra rent I had would be kept and probably refunded when the tenant vacated.
There are many ways to achieve the same without the Govt knowing.
I've been gaming the system for as long as I can remember.
In a very benign way.
There is always a way round stupid Govt regulations.
So I'm not that bothered what Govt does.
I'm an honourable person and my tenants know it.
My good reputation is well known.
So I know my tenants would have no issues with my designing AST etc certain ways.
Of course there is no way that LA can do what I do.
Which is why my local LA has properties at less rent than mine and yet all my properties are occupied.
I wonder why! ?
Hi the deposit protection is a legal requirement and there is a formula in place that states what the compensation is. You can google it I am sure or if you are a landlord as part of the Landlord association (you pay £150 a year and its well worth it); they will confirm what the amount is. This is what is required in law. I recommend that you do this, work out the amount and then write a letter to the solicitor with the article/documentation confirming what it is and agreeing to pay. There is no point in negotiating what by law you need to pay. It is not linked to your salary, it is linked I understand to the rental. If not, they can take you to court which undoubtedly they will do.