PRTB responsible for holding tenant deposits

G

Gerard123

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While there are no doubt some issues with a tiny proportion of landlords withholding tenant deposits getting the PRTB to hold deposits is impractical for tenants surely.

For tenants moving how will they get a deposit together for their new landlord? Landlords normally give the deposit back as a rule when getting the keys back at the end of tenancies, tenants simply hand the money over to the new landlord.

Will the PRTB hand it over immediately to tenants? I doubt it. Presumably there will be more paperwork involved for all. Hence a delay in tenants getting their money back. The delay may well put tenants under pressure in not having enough money for a deposit and first months rent on a new place.

Probably well intentioned, but perhaps a sledges hammer solution? Not very practical in my view. The solution will need another solution methinks.
 
Basically, between the tenants, Threshold and the PRTB, they have brought this upon themselves.
 
This is pretty much how it works in the UK - there is generally additional cash required by the tenant to secure the new place (i.e. deposit and rent upfront) prior to getting their existing deposit back.
 
It might be a case of asking tenants for 1st and last months' plus the deposit. Then, as the last month's rent is already paid, they will have a month's rent in hand to use as a deposit. But they will still have to find the 1st and last month's rent.
 
facetious said:
Basically, between the tenants, Threshold and the PRTB, they have brought this upon themselves.
Click to expand...
Totally agree and you can add Herr Kelly to that and all the incompetents who supported this. It will bring extra problems for tenants when moving and I would not like to be in a rush waiting for my refund from that quango. More administrative costs which will cause a lot more misery than it will solve. Another Labour solution:mad:
 
In terms of existing deposits - would a landlord have to retrospectively register these with the PTRB? I have my tenants in an account separate to my day-to-day one, and have no problem doing it but as I live in another country the less I have to do in dealing with Irish institutions the better for my sanity :)
 
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