Deposits

Orlee

Hi All,

Is there a standard procedure for returning deposits?

Assuming there is no damage or need to keep all or part of the deposit ...

Do you deduct it from the last months rent?

Or return it to them the day they leave?

Is it acceptable to forward it on to them after they have left?

I had a look through prtb.ie - it only states that it should be returned to the tenant promptly

Thanks
O

Cathmandooo

If there's no problems and no outstanding bills then just hand it back asap. To cover yourself then I'd hand it back by cheque rather than cash so you have a paper trail.

It is acceptable and probably the norm to forward it to them after they have left and the keys are back in your possession. I wouldn't deduct it from the last months rent.

billybigunz

Standard procedures with Irish landlords seems to be keep the deposit as it has already been spent 12 months previous propping up their lifestyles. We need a poper thrid party escrow service.

rick_fantastic

IF all is ok with property and IF tenant has not broken lease conditions, I would take meter readings for gas and electricity and then forward what is left over when final bills are in.

this usually takes usually 3-4weeks but can take up to 6 depending on the billing cycle and when the tenant moves out....

never been an issue for any of the people renting rooms off me...

on the other hand, i have had tenants who dont pay their last months rent and expect to stay to the end of the month and use there deposit as rent - THIS IS NOT ACCEPTABLE TENANTS, I have a clause written into lease which allows for immediate removal... most tenants dont read the lease and sign anyway.....

just to note these would be sub license tenant leases anyway as I hold the lease on the house I'm living in and sublet the rooms....

D3PO

rick_fantastic wrote: »

, I have a clause written into lease which allows for immediate removal... most tenants dont read the lease and sign anyway.....

....

this is pointless because you cannot sign away your rights in tennancy law making this clause void. Your tennants might not know this but just an FYI because eventually you will come across one that knows their rights.

anyway back to the OP's questions

Dont let them use their deposit to pay the last months rent. On the day they are to move out inspect the property PROPERLY. Contact ESB / Bord Gais etc etc and arrange to get bills sent out. Deduct bills owing and return the rest of the deposit.

billybigunz

I have a clause written into lease which allows for immediate removal... most tenants dont read the lease and sign anyway.....

lol, if you tried to evict tenants with that lease in place you would find yourself down 5 grand fairly quick.

Orlee

Right so ...

I'll inspect the property with them, agree any damages (if any!) and then forward on a cheque to them for the balance of thier deposit less any outstanding bills etc

Shouldn't be more than a week or so then ...

Thanks a mill

O