How do I get back 1 weeks deposit from the 6 weeks held by DPS please to return to tenant? Same tenant will be renewing contract but I need the 1 week back to give to them as new legislation says only 5 weeks can now be taken.
Thanks
Hi Kathleen, yes exactly right about the new deposit cap.
You can initiate a deposit return on the DPS website.
It’s ridiculous and short sighted of the people who suggested this cap to not allow a partial refund. I have had to refund the full amount and now am having trouble setting up a new deposit. Why do they make it so difficult. My tenant was happy with the amount, it now just a waste of everyones time.
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Hi All,
I have had the same issue and my tenant who 1) was unaware of the change in legislation and 2) said it was ridiculous and said not to worry as he has been with me for 4 years and said I am not going anywhere. I am always above board but where do I stand if I do not give him the money back? Surely the DPS should do the calculations and refund it back directly?
Really frustrating and another shackle placed upon landlords
Hi Ian, have you tried to do your partial repayment via the DPS site yet?
Sam
Absolutely agree. If I charged minimum wage for all the time I put into landlording, they couldn’t afford it!
Couldn’t agree more, as a reputable landlord who ensures his tenants are happy, that takes a significant amount of time and lost income in other areas.
Hi Sam, to part refund a security deposit, would we have to refund the whole amount and claim the reduced security deposit amount as a deduction? Would the deducted security deposit still be held by DPS and would it still be protected? Otherwise does the whole amount have to be refunded even though the tenants have not vacated the property? What protection do landlords have that compels the tenant to pay a deposit if they are already occupying the premises? If the tenants pay the new deposit how do we ensure the deposit is held by DPS and protected? Thanks Lorraine