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Apr, 2017

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  1. #21
    Join Date
    Nov 2016
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    I dont think they could actually protect it at all now though jjlandlord without being liable for penalty again?

    Deposit was taken way more than 30 days ago and so Pi could not be issued in time. Or are you suggesting superstike case might apply where it's a deemed deposit and protected on time if a new AST is given?

    I wouldn't take any risks. The whole protection scheme seems to set landlords up for a penalty. With so little time left I'd be tempted to avoid an AST and avoid any doubt

  2. #22
    Join Date
    Nov 2010
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    7,902

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    Quote Originally Posted by Wright76 View Post
    Or are you suggesting superstike case might apply where it's a deemed deposit and protected on time if a new AST is given?
    Well, of course.

  3. #23
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    Nov 2016
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    That sounds great in theory as tenants would be quick to claim if a deposit wasn't protected on renewal, but I'm not confident they wouldn't use the 30 day thing etc etc if it was protected late, all be it on a different tenancy.

    It seems to me a landlord is doomed if they do and doomed if they don't.

    The whole thing is a joke. Like there is no punishment for the OP if he gets to next year, even though the tenant will have no access to arbitration. Yet, a landlord that protected deposit before tenancy ended so tenant cannot possibly lose anything is liable for possibly multiple penalties.

    The argument that landlord could go bust mid tenancy doesn't work for me. If that was the case the tenant could live rent free to recoup deposit until evicted so will never lose their deposit.

    It would be simpler If it were a simple matter of a penalty applying If deposit was not in a scheme when the tenancy ended. The only benefit I can see from the current system is that the schemes are making a fortune in interest banking everyone's deposit!?!

  4. #24
    Join Date
    Jan 2011
    Posts
    6,744

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    A deposit of £1000 invested at 4% pa would generate £40 interest pa. Schemes have basic operating costs + requirement to provide ADR for all.
    Let me know of any Ins-based Schemes that charge <£40 for an Annual Premium.
    Up to LL to choose Scheme to use, based on current T&Cs

  5. #25
    Join Date
    Nov 2010
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    7,902

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    Quote Originally Posted by mariner View Post
    Schemes have basic operating costs + requirement to provide ADR for all.
    And they receive millions directly from the government.

  6. #26

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    Quote Originally Posted by Wright76 View Post
    Whatever you do though you mustn't issue a new AST as the clock for penalty will begin again
    That i will NOT do, im so grateful you told me that, i asked the tenant for her old agreement and she said she doesnt have it anymore as its been 5 years since it was renewed

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