Fast facts about your deposit: Your landlord is solely reponsible for protecting your deposit. It also restates the principle of resolving bank failures with the use of funds provided by financial institutions, and not by taxpayers. You are then entitled to the return of the deposit, and up to 3 times the amount of the deposit as compensation. Tenant refuse any negotiations. Any chances to avoid penalty? Deposits of Estonian branches of foreign credit institutions. Tenancy Deposit Protection Claims: Claiming compensation if a deposit is not protected. The letter tells your landlord that you are not happy that your deposit has not been protected and that you plan on applying to the court to have it protected or refunded and/or to claim compensation. Deposit was required to be protected because of the renewal even though no money actually changed hands. Join Date: Jun 2015; Posts: 14 #2. Yes No. Protecting the tenancy deposit may seem like a small part of the letting transaction, but it’s a key part of the process that you should not ignore. Thanks! If your deposit was not protected, or it was protected more than 30 days after you paid it, your landlord or agent has broken the law. Boyle v. Musso 25 October 2010 Bristol County Court. Our deposit was properly protected (it was a residential flat, not a holiday let), but the terms of receiving our deposit back was that the letting agent had to conduct an inspection at the end of the 28 days, after which point they would start the process to release it--so we can't currently do anything until they confirm they've done the inspection, which might not be possible at the moment. Reply. Was it protected? Tenancy Deposit Claims have a team of experts that can guide you through your claim, from start to finish. Was this page useful? It gives your landlord the opportunity to put things right if they want to try and avoid going to court. All Member States extend this guarantee to their depositors. Deposit Claim Is my deposit protected? Where a deposit has not been protected within the prescribed time, landlords must return the deposit to the tenant or face being prevented from recovering possession of the property. Disputes with your landlord can be particularly stressful. If you do not receive a certificate within this 30 day period it is highly likely you are entitled to claim compensation from your landlord. It is written in Section 213 of the Housing Act 2004 that all tenants and guarantors must be given information proving the deposit is protected, this is usually called a Deposit Protection Certificate. Enforcement. If your landlord has broken the law you are able to sue them for an amount that is up to fourfold your deposit. If your deposit is not protected, your landlord is liable for a penatly. Is there an issue with this page? 31-01-2016, 13:45 PM. We are joint account holders of a business account. What if my deposit is not protected? If you can answer yes to the following two questions then you may be entitled to claim compensation. Using deposit protection schemes - the official schemes, information you must give tenants, what happens if you do not protect a deposit, disputes and advice If, however, they issued proceedings and then you protected the deposit, you stand to lose three times the deposit. I was not asking for compensation! ... not protecting your deposit at all or protecting it too late i.e. The law says “up to” 3 times the amount of the deposit. Have you paid a deposit on a rented property after 2013? In this situation, the business is the protected entity, not each individual. DEPOSIT NOT PROTECTED? Section 213 and Section 214 of the Housing Act makes it very clear – If a tenant has an AST (Assured Shorthold Tenancy) and their deposit is not protected in a deposit protection scheme within 30 days of the deposit being paid, then the landlord MUST return the full deposit as well as up to 3 times the amount of the deposit as compensation . Section 21 of the Housing Act 1988 allows a landlord to repossess a property of a shorthold tenancy once the fixed term has ended by giving the tenant a notice of 2 months. FSCS protects customers when authorised financial services firms fail. Giles Peaker on 07/09/2017 at 7:08 pm Depends what you mean by ‘released’, but sounds like no deposit taken/retained for second tenancy. Your deposit has to be protected even if someone else paid it for you, for example your parents or a friend. Both the Insurance Based and Custodial Schemes provide details of an Alternative Dispute Resolution Service (ADR). If you want to start the repayment process, but haven’t got an online account, you’ll need to set one up. We lived in the house for almost six years and the landlord only protected it five years into our tenancy which was believe he did as he planned on getting me out. I return full deposit. What happens if a deposit dispute occurs? Landlord ordered to pay deposit plus 3 x compensation. The tenant made an application for the penalty as a counterclaim to possession and rent arrears where at the first hearing it was held-“Finally, the Defendant seeks a penalty pursuant to Sections 213 to 215 of the Housing Act 2004. The amount of available financial means of a DGS has no impact on the The level of deposit protection in the EU is harmonised at €100,000 (or equivalent amount in the local currency), and this amount is guaranteed irrespective of the current level of available financial means of any Deposit Guarantee Scheme (DGS). Member. Remember, this is a penalty against the landlord for not adhering to tenancy deposit legislation. Compensation for not protecting the deposit Many tenants think that they will be awarded three times the value of the deposit, also, the deposit back too. Mikeymike on 07/09/2017 at 8:11 pm Thanks Giles. Provided you protected the deposit, albeit late, and provided it was done before they issued legal proceedings, then they cannot claim the statutory three times the deposit as compensation. A team of consultants will review your case and advise you on your options. We paid a £600 deposit which was protected. Deposit protected by Capita was subsequently transferred to MyDeposits. The directive maintains the deposit protection of €100,000, and includes a gradual reduction of the repayment times of deposit guarantees. Press the button below to get contacted about your deposit! Reply. Our Basket Equity Linked Deposits are NOT capital protected. If you are unsure whether your deposit was registered with an appropriate deposit protection scheme, chances are, your deposit was not protected.. If your deposit is protected in our Custodial scheme. † Not capital protected. I could upload my letter before action if enough want it. The law states that every Landlord who takes a deposit from a Tenant has to protect that deposit by lodging it with one of 3 tenancy deposit protection schemes. You could be entitled to compensation. They usually have 30 days after you’ve paid it to put it in a TDP. So if I get my deposit back or some of it back am I then not entitled to claim compensation for late protection of the deposit? Deadlines for protecting your deposit If your deposit was not protected, or it was protected more than 30 days after you paid it, your landlord or agent has broken the law. Background information: housemate and I originally signed for a property rental from 01/07/2015 to 30/06/2016, from an estate agent acting on behalf of a landlord. Landlords have an obligation to pay deposits received from Tenants into a deposit protection scheme. Recent research shows that the average deposit in the UK is £800 with much higher deposits being paid on London properties. Deposit was never protected nor repaid therefore (quite sensibly) landlord ordered to pay 3 x deposit plus repayment. [Continued in the post below] Tags: None. ^ weeks later a receive letter from court – tenant demand return part rent for last month and compensation for not protecting her deposit. The law states that every landlord who takes a deposit from a tenant has to protect that deposit by lodging it with one of 3 tenancy deposit protection schemes . YOU CAN CLAIM COMPENSATION HERE. Although TDS does not police the legislation, a landlord could be faced with court action, a potential penalty and restrictions which will affect the ability to serve notice for possession, if the requirements are not complied with correctly. The keyword is “up to” 3 times, which does not mean, that the tenant will automatically receive three times the value of the deposit. Our Tenancy Deposit Claims Solicitors are experts at claiming compensation for tenants who have faced issues with their landlord about deposit protection schemes and getting their deposit money back at the end of the tenancy. What if my deposit was not protected correctly? The Problem. 5. However the deposit is released at the end of the first tenancy and the deposit is not protected for the second. See a full list of who isn’t protected in the Prudential Regulation Authority’s Rulebook. Our Basket Equity Linked Deposits are NOT protected deposits under the Deposit Protection Scheme in Hong Kong. However, the deposit was protected during the tenancy on 5 March 2013 and the prescribed information was provided on 8 July 2013. Reply. The compensation for the tenant is equivalent to three times that of the deposit. You can still claim this compensation if your landlord has returned your deposit but they didn’t protect it while you were in the property or they protected it late. The tenant has the right to seek compensation if the landlord does not provide them with information about the Tenancy Deposit Protection Scheme used. You could be entitled to compensation of up to £85,000. Landlords have an obligation to pay deposits received from tenants into a deposit protection scheme. It is estimated that around 50% of deposits are not protected correctly by landlords . after the 30 day deadline. The FSCS compensation limit applies to all deposits you have with an authorised institution, which may include several banking and building society brands. And that’s not all – you can claim compensation of one to three times your deposit if your landlord didn’t protect it in a TDP. Your deposit doesn't have to be protected if you're a lodger or a student in halls. Most businesses are protected but authorised financial services firms are not. Discover how we can help you. Deposit not protected by landlord; what compensation am I entitled to? Normally your landlord will start the repayment process, though you can do this too by logging into your online account. Get advice. It also doesn't have to be protected if you rent privately and have an assured or protected tenancy. Give your landlord a deadline to respond to you, otherwise you will make a claim. You may claim compensation between 1x and 3x the original deposit. If your landlord has failed to protect your deposit you may be entitled to compensation of up to 3 times the value of your deposit. 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