Holding Deposit / Security Deposit? Help please

battries not included

Hi, going to view a property for the second time tomorrow and would like advice on the following;

The property I am {thinking} of moving into has had the ESB cut off, estate agent advises the LL had it disconnected

Anyway I will be meeting the estate agent tomorrow to agree terms, he said if I pay a holding deposit and sign agreement that the landlord will switch the ESB back on and we can get the keys when we pay the balance of the deposit the day we move in (2 weeks time)

I am willing to pay small amount of deposit and the remainder the day we move in, on the agreement that the ESB gets switched on and the bill comes in my name just so I can be in control of my own usage...

Am i doing the right thing here? I really like the place, suits my family down to a tee, just the fact the ESB is off kind of worries me, is this normal practice in the current climate??

Also what way should I pay the 'holding' deposit? i don't mind paying cash once I get a valid receipt.

ahhhhh, totally stressed out :(:(:(:(

Kimia

That all sounds fair enough to me. As long as the ESB is transferred into your name it all sounds above board and normal. Don't pay the holding deposit unless you're sure you want the place because you will not get it back if you change your mind.

battries not included

Thanks Kimia, I actually know the estate agent (used to live near me) that said this is business and the aprtment is for my family, no room for error, like I said the place is fine, clean, rent amount fine etc.. just never viewed a property were it had no ESB!!

Could you advise as to how to pay the holding deposit, would cash + receipt be acceptable, or would I insist on paying it through a bank draft?

thanks again, any advice is welcome!

Kimia

Bank draft is a good idea, and make sure you get a receipt. Take photos when you move in of every nook and cranny because you don't know what they will try and blame on you when you leave.

Ask that they note in writing that everything is working - oven, microwave, lighting etc because you've no way of checking that so you need some guarantee.

wyndham

What kind of heating has it got? Is the property alarmed?
Very unusual that the power is off.

battries not included

It has storage heating, and no alarm on the property.

I thought it was strange too but I also viewed a home on the same day of this viewing and that too had no ESB connected, I assume the LL got it turned off?

convert

The previous tenants may not have paid their bills and so the ESB cut off the electricity.

I would try find out from the EA/LL why the electricity is not currently connected.

Then, as mentioned above, get everything in writing, from a guarantee that all appliances and fittings are working to stating that you will not be liable for any outstanding ESB bills (just incase this arises - you never know who you're dealing with, so having something like this in writing saves hassle down the line. And yes, I probably am far too skeptical!).

I would prefer to pay the holding deposit by bank draft or cheque - that way you have some sort of paper trail. Also ask for a receipt.

Spiritofthekop

Kimia wrote: »

Bank draft is a good idea, and make sure you get a receipt. Take photos when you move in of every nook and cranny because you don't know what they will try and blame on you when you leave.

Ask that they note in writing that everything is working - oven, microwave, lighting etc because you've no way of checking that so you need some guarantee.

The photos when you move in make sure you have the date switched on in each photo too.

Do a snag list OF EVERYTHING and get landlord to sign it, this will garentee you your FULL deposit back.

The lanlord wont try and pull a fast one in other words.

convert

Spiritofthekop wrote: »

Do a snag list OF EVERYTHING and get landlord to sign it, this will garentee you your FULL deposit back.

The lanlord wont try and pull a fast one in other words.

The landlord may still try and 'pull a fast one', but having the list signed should certainly deter him/her from doing so! :pac:

swirlser

Well you are entitled to any appliances provided with the property to be in working order, so you don't need that in writing.

I would take care to give the place a close inspection day1 and report any issues without delay, taking photos of anything and everything. Particularly the esb meter reading, take a reading and pic with ea present when ur getting ur keys, you don't want any arrears creeping onto your bill.

battries not included

Thanks for the advice everyone, hopefully meet the ea this week and hand over holding deposit (balance of the deposit to be paid when the LL switches on the esb before we move in)

I will take photos of everything and get the ea to sign them, I am hoping the esb is turned on a day or two before we move in as I would like to check all the electrics work before handing over the full deposit