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Too Much Deposit

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Author Topic: Too Much Deposit  (Read 65 times)
Newbie
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I like property

« on: August 11, 2020, 03:36:11 PM »

Hi

our tenant moved in in 2018 and signed 12 month fixed term contract in 2018, 2019 & 2020. the tenant has now vacated (breach of fixed term) and we need to deal with the deposit.

when the tenant moved in there was no restrictions on the amount of deposit and landlord could hold.

The rent that is owed is more that the deposit we hold, but we are happy to cap it at this amount,  but should I cap it at the current maximum of 5 weeks deposit and return the excess? the deposit is held in a TDS.


Thanks



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