View Full Version : Trasnfer of deposit from DPS from one LL to another?
15-04-2012, 19:48 PM
Is this possible?
Potential T says they dont have the deposit until its released from previous tenancy. My rule is that the deposit and first months rent are paid in cash on the move in day.
Can the DPS transfer the deposit to my property on the instruction on the T? How can I get conformation of this on the move in day?
15-04-2012, 19:54 PM
No, the current deposit could be transferred by the current landlord, but it would still be protected against the current property.
It may be that the current landlord does not agree with all the deposit being released, and he will need time to come to that decision.
Your stance regarding the depositis perfectly valid (in fact anything else would be unwise) so unless your tenant can borrow the deposit (and re-pay if/when original deposit refunded) I would keep hold of the keys.
15-04-2012, 19:59 PM
Their is a form completed by the LANDLORD to transfer deposit from one to another. but..
The point I would make is that deposit wont be released until the END of the tenancy and the landlord has checked his inventory. Filed a claim against DPS and tenant either agrees or disagrees.
So your in limbo until then. Id insist on cash myself or a letter from DPS. Dont give tenancy on the word of the tenant.
I wouldn't touch that with a barge pole.
Don't get me wrong I know it's a pain in the rear coming up with the funds when moving but I don't think it shows a prospective LL much confidence if I haven't budgeted for such an event. She's known that she was moving (deposit tied up in her current home) and had two months notice (unless of course she's opted to leave at the end of a fixed term). Either way though she's known for some time.
Call me cruel but I cancelled my daughter's birthday party one year as LL decided to sell up and we had to move on. I made it up to her in the summer though with a BBQ party. The child now reckons she should have two birthdays a year (has happened to the poor kid twice as year previous the house had flooded).
I'm just basically saying there are priorities. Roof over your head being the first.
15-04-2012, 20:13 PM
No I wouldnt hand keys over until the full deposit is secured.
15-04-2012, 20:19 PM
Their is a form completed by the LANDLORD to transfer deposit from one to another. but..Are you saying that a deposit on 123 High Street could be transferred and allocated to 26 Letsby Avenue?
I thought the only change of LL applicable to a deposit in DPS is for when ownership has changed (hence new LL).
15-04-2012, 20:36 PM
Are you saying that a deposit on 123 High Street could be transferred and allocated to 26 Letsby Avenue?No, Not that im aware off. Im only aware of a form that LANDLORD can sign to transfer deposit (i.e. on sale of property, or loss of agent).
15-04-2012, 20:43 PM
No, Not that im aware off. Im only aware of a form that LANDLORD can sign to transfer deposit (i.e. on sale of property, or loss of agent).Oh yes, you can do that online.
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