Deposit dispute advice, and what to do if a tenant owes you money.

In our latest video, we speak to Olivia Parkinson from Frettens Solicitors, an expert in dispute resolution who guides us through the process, and explains what happens should a deposit claim exceed the amount of deposit held, and what to do if your tenant disappears owing you money.

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A deposit dispute in the UK typically arises when a tenant and a landlord disagree on the amount of deposit to be returned at the end of the tenancy.

If the parties are unable to reach an amicable agreement, the tenant can raise a free dispute with whichever government backed scheme the deposit is protected with. It has been a legal requirement for landlords to protect tenancy deposits with an approved insurance or custodial scheme since 2006. Failure to do so can result in penalties, including fines of up to three times the deposit amount, and can cause problems when trying to serve notice to a tenant.

The scheme will appoint an independent adjudicator to review the evidence provided by both parties and make a decision on the amount of deposit to be returned. The decision of the adjudicator is final and binding. However, if either party is unhappy with the decision, they can still take the dispute to court.

If you would like advise on any of the information in this video, please call us on 01202 554470.