Top tips for tenants to get their deposit money back
Are you moving out of your rented property soon and worried about returning your deposit? Read this article to make sure that you get your money back.
The way that a landlord or letting agent holds tenancy deposits has changed considerably over the years. Once upon a time, your landlord would keep your deposit money in their account. Many tenants would simply have to trust that the landlord wouldn't spend it and they'd get that money back when they left the property, but, of course, there were no guarantees.
Many tenants would just assume they would never see that cash again and chalk it up to the cost of moving into a new property. Landlords could withhold the money for repairs at their own discretion without any evidence or even without much reason.
But the industry has come a long way since then with protection for tenant's deposit funds so that you have every right to reclaim your money when you move out, providing, of course, there are no issues that need to be dealt with.
And, of course, there is a cap on the amount that can be charged. At one point, a landlord could hold whatever amount they saw fit, whereas there are limits in place now so that tenants don't have to hinder their chances of a property because they can't find thousands of pounds to pay upfront as a deposit.
All in all, the tenancy deposit system has improved beyond recognition and is a much fairer way for tenants to find rental properties. But this is no guarantee that you'll get your money back. It's a deposit, after all, and so, if you don't return the property in the condition that it was let to you, then you may potentially jeopardise your money.
So, what can you do to make sure that you get that money back?
- Dig out your inventory - If, when you moved in, you were given an inventory or a schedule of the condition of the property, dig this out. Compare the property today with how it was when you moved in so you can return it to the same condition as when you found it. Of course, there'll be elements of wear and tear to take into account, but there shouldn't be any damage, and the property should be at least as clean as you found it. The inventory is the best way to compare because your memory will have changed over time.
- Arrange a pre-checkout visit from either your landlord or your letting agent to see if there are any particular areas they think will need to be rectified. This gives you time before you actually hand the keys back in to address them, thus ensuring a swift return of your money.
- Deal with any repairs - if you've checked your inventory and have had a visit with your landlord or letting agent, make sure you actually deal with the issues raised to a professional standard. If you've been told a wall will need to be painted, don't just hurl paint everywhere, as this will actually do more damage to your claim on the deposit.
- Don't forget about the garden. Particularly in the winter months, we can forget about our outside space because we don't use it as much. Clearly, if you moved into the property in summer and move out in winter, there are going to be seasonal differences between your inventory and the property. This is not an excuse to leave the garden a mess. If you were given a neat and tidy garden, you must return the property to the same standard. Of course, you can't force flowers to grow, but you can make sure that the hedges and bushes are trimmed neatly, leaves are removed, and the grass is cut. If, of course, this is how the garden was when you moved in.
Remember, you're not expected to refurbish the property before you leave but to return the property to at least the same condition as it was when you moved in. If there are areas that you are concerned about, or if you're unsure, ask the question. It's better to try to deal with things whilst you still have full access to the property. It's much harder to rectify issues once you've already handed the keys back, and this could result in you having to pay for contractors to do something that you could have easily done for yourself for free.
If you're thinking of moving out of your property and would like some advice about the process so you can make sure you get your deposit returned to you quickly, get in touch with our team of property experts, who are happy to help.