Rental Deposits
From "The Landlord and Tenant Act 2025"
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There is no mention of deposit protection for the Tenant. I think most renters on the island have had their deposits retained by the landlord for little to no valid reason. At times the landlord isn't able to repay it; other times, the landlord is looking for 'damages' which may be nothing more than reasonable wear and tear which should be covered under the tenant agreement.
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Profile of Patrick Caton
Posted by:Patrick Caton
9 months ago
Why not use escrow accounts for deposits? Common in the USA. Used for all sorts of contractural obligations.
Profile of Jenita
Posted by:Jenita
10 months ago
Even as a landlord I agree with this comment. Just because the landlord owns property does not mean that they’re good with managing finances.
Profile of A Nonymous
Posted by:A Nonymous
10 months ago
The deposit should be held in a separate account that the landlord cannot touch until the end of the lease and then only with justification e.g. reference to specific issues and proof including invoices for any repairs/replacements. This is a requirement where I am from.
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proposed