Nigel Owen
Property Management and Maintenanc
e

STATION CHAMBERS, Alexandra Road, Aberystwyth, SY23 1LH.
(Station Chambers is next to the Railway Station, Aberystwyth)

 

Information about the Deposit.

 

The Landlord and myself are registered with a Government scheme of which your held deposits are sent, held and protected by the Deposit Protection Service.

If you want to rent a flat, the deposit required by the Landlord is normally a months rent ( usually £500 ) - If you want to live in a House of Multiple Occupation (H.M.O) then you will need to provide an individual deposit of £280

The protection of the Tenants Deposit is Government law and became effective on the 06th of April 2007.

If you handed cash over to your last or current Landlord / Agent and you believe that it is not lawfully protected by a third party (Government Agency) then your Landlord or Agent is holding your deposit illegally - You can report them, resulting in a claim - If you are a University Student, seek more information from a representative at the the University Accommodation Office.

The deadline for the protection of a deposit is of a maximum of 30 days - It used to be 14 days.

Tenancy Deposit Protection is designed to ensure:

  • You get all or part of your deposit back, when you are entitled to it
  • Any disputes between you and your landlord or agent will be easier to resolve
  • Landlords and letting agents who do not protect tenancy deposits may have to pay their tenant back three times the deposit.

A good source of Information can obtained from this web site: Accommodation - Legal Issues

On the sighing of the Tenancy Agreement, You will hand over your Deposit, as a single Cheque Payment,  made payable to the Deposit Protection Service

Where Joint Tenants are registered together, the Lead Tenant will represent the interests of any Joint Tenants and any Third Party and will act on their behalf specifically in connection with the deposit's repayment, and any forms relating to the Single Claim or the Alternative Dispute Resolution process. The Lead Tenant must be nominated by all of the Joint Tenants and any Third Party.

On the D.P.S receiving your Deposit Application and Payment, they will either E.mail you or send confirmation of that payment and Property address, total number of tenants to the Property, etc. along with a five figure repayment, I.D number - This number is required for when you end the tenancy term of agreement. i.e,
On the tenancy end date, the Property Manager along with the Tenant(s) will jointly inspect the Property as a final handover procedure and then, hopefully come to a satisfactory agreement whereupon the tenant requests their return of their deposit.

Payment Cheques must be made payable to The Deposit Protection Service and must be for the full amount of the deposit;
The DPS does not accept multiple cheques to cover one deposit.

Please note that there is an administration fee of approximately £26.00 made by the D.P.S, incurred for cheques that are returned unpaid - Please ensure that you have funds in your Bank, etc to cover the amount as required.

Once the Tenancy Agreement has ended, your application for repayment of the deposit will be sent to the D.P.S – On receipt and within 5 calander days, your deposit will be sent as an electronic bank payment should be either returned to your Bank.

Deposit Surcharge - Important !

An administration surcharge of 100%, chargeable to the full deposit will take effect if the Contract to Tenancy Agreement is canceled by the potential Tenant, prior to the start date of the Tenancy Agreement becoming affective.

An administration surcharge of
50%, chargeable to the full deposit will take effect if the Tenant decides to leave the property \ Contract to Tenancy Agreement is canceled, regardless of circumstances, including illness whilst serving the contracted term dates of the Tenancy Agreement.

An administration surcharge of 100% chargeable to the full deposit will take effect, affecting all tenants if an Eviction Order is served to the Tenants and Property.

These administration surcharges against the deposit are a set condition, written to Contract and are not a penalty charge; all of which would have been verbally discussed and agreed too by all parties prior to signing this Tenancy Agreement.

If a Tenant or Tenants to a Property are evicted, they will lose the full amount of the deposit, 100% and will be subject to all legal costs against them.

If you do not agree with the above statements then you should not enter into an agreement and should not sign the Contract of Tenancy.

More information can be sought by going to my "Links" page as there is a direct path to the Web Site or click on here: www.depositprotection.com 

If you wish to contact the Deposit Protection Service, their address and contact phone numbers are shown below:

The Deposit Protection Service
The Pavilions
Bridgwater Road
Bristol
BS99 6AA

Their dedicated help line is on 0844 4727 000. (If you are calling from outside the UK, you can also contact them on +44 (0) 870 707 1707.) Their are open, Monday to Friday from 08:30 to 17:30 (excluding weekends and bank holidays.)

Additional information can be found by viewing this site: www.direct.gov.uk/tenancy deposit

If any Tenant requires additional advice or is unclear about where they stand prior or within the Tenancy Term then they should visit this 3rd party site: tenancyagreementservice.co.uk whereupon good information is given by the "Tenancy Agreement Service" for Landlords and Tenants on Assured Short hold Tenancy Agreements. This site covers and explains the Landlord and Tenant Act 1985.

Administration fee
A general Administration Charge of £20 will be required from each person when signing of the Contract of Tenancy. This charge is for a multiple of tasks, viewing the property, setting up the Contract, time spent in communication, protecting and returning your deposit of which all take up a huge amount of time.

 

Call and make an appointment to view: 07712 88 3927

© 2007 Nigel Owen Properties for Rent