STATION CHAMBERS, Alexandra Road, Aberystwyth, SY23 1LH.
Information about the Deposit.
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.
A good source of Information can obtained from this web site:
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,
Payment Cheques must be made payable to The Deposit Protection Service and must be for the full amount of the 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, 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.
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
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.
Call and make an appointment to view: 07712 88 3927
© 2007 Nigel Owen Properties for Rent