My husband and I are moving from one rented flat to another on Saturday. Our current landlord came round earlier today (my husband was there and I was at work) to inspect the property. She said everything was OK and that we would get our deposit back but she said she would need to give us a cheque. My husband told her that we needed it back in cash as we need to give a cash deposit to the landlord at the new flat. We originally paid the full deposit in cash. She said she would 'see what she could do' and would try to give us part cash part cheque. Can she do this? Surely as we gave her the deposit in cash we are entitled to get it back in cash? Without it we are unable to pay the deposit on the new flat.
2007-07-26 03:41:06 · 8 answers · asked by Little Bo Peep 3 in Business & Finance ➔ Renting & Real Estate
The trouble is I really don't like asking to borrow money - although having read the answers so far I know I'll probably need to in this instance (I have recently cut up both of my credit cards and I don't have an overdraft).
2007-07-26 04:08:41 · update #1
Unfortuantely they don't have to pay you back in cash. Most businesses such as letting agents don't like having cash on the premises, in case of theft, and so any cash in is banked daily, and anything going out is paid by cheque.
I understand the difficulty you face, as I rent myself, and it effectively it means you have to find 2 deposits, one for when you move in, and one for the next place, as often it takes a while to get the deposit back on the original place.
Is there any change of borrowing the money for the new deposit from family or friends, or alternatively putting it on a credit card or going into an overdraft? As soon as you do get the deposit back you can pay back the lender.
2007-07-26 03:58:12 · answer #1 · answered by Anonymous · 1⤊ 0⤋
It depends on when you paid her the deposit! I work in a letting agent and there was a new deposit scheme that came in in april07. to protect tenants. If she sent the cheque of which she has to legally then she has every right to give you a cheque back as this is paid to her like this when they send the deposit back. If you originally paid in cash , she can actually pay you in a cheque , but before she give it to you please please make sure you or her are insured with tenants protection in case it bounces. If you have never had a problem with her it should be ok, but you should of taken out tenants insurance anyway be fore you moved in. if it does bounce you are then covered for the company to give it back to you but this can take a while. And also does she go through a letting agent?? it is very rare to get your deposit back straight away as it can legally take up to 28 days and you cannot dispute this . I hope this helps you a bit at least. Is there no one you could borrow the cash of until you you get it back??. If you have enough cash in the bank most land lords or agencies will take a bankers draft, which is a cheque written by the bank not you so it clears straight away.
2007-07-26 03:55:06 · answer #2 · answered by Shula E 1 · 0⤊ 0⤋
I'm amazed your old landlord is returning your deposit so quickly .. often they wait for a few weeks in case the new Tenant finds something wrong that they (the Landlord) missed ..
I'm also amazed that the new landlord is asking for cash .. most Landlords want to know you have a bank account and that your cheques are honoured as soon as possible ..
2007-07-26 04:06:42 · answer #3 · answered by Steve B 7 · 1⤊ 0⤋
i am assuming this flat is in the united states if so she is entitled to give you a check, this also protects her as far as proving she refunded you your deposit. consider yourself fortunate she is as many landlords will look for reasons and find some to back out of your deposit. also with a check if it is local thats all u need to do is go directly to that bank, produce identification and u now have your cash. this should be a simple process! my advice is grab the check and run to her bank.
2007-07-26 03:54:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Just because you paid cash deposit does not mean you are entitled to receive it back months (years?) later in cash.
The rental agreement will probably just state that landlord will pay deposit back less any outstanding rent due / damages etc.
2007-07-26 03:52:50 · answer #5 · answered by JohnnyOneLung 4 · 1⤊ 0⤋
Cheque is counted as cash sorry. The only thing in this country that isnt counted as cash is debit and credit card transactions.
2007-07-26 05:33:41 · answer #6 · answered by natasha * 4 · 0⤊ 0⤋
No she does not have to give you it in cash and I do not see why your new landlord wants his in cash?If he is insisting on cash then he probably is'nt declaring it to the Inland Revenue,so explain to him that you will have to pay by cheque or he will have to wait for the cash!
2007-07-26 04:05:44 · answer #7 · answered by Anonymous · 1⤊ 0⤋
unless its specifically stated in your lease agreement that the deposit has to be in cash, i don't think you will be able to do anything. hope you get it sorted out
2007-07-26 03:50:32 · answer #8 · answered by Lolly ™ 3 · 1⤊ 0⤋