Deposit registration Clause Samples

Deposit registration. Arrangement and cost of the check out report at the end of the Tenancy together with any negotiation required. Landlord’s Undertakings

Deposit registration. All deposits collected by us will be held by ourselves as stakeholder throughout the tenancy and registered at the cost of £36.00 including VAT per tenancy. The landlord and the tenant must endeavour to notify us if there is a dispute over the deposit, as soon as possible, and within 28 days of the lawful end of the tenancy and the vacation of the property. This should be given in writing. The Independent Case Examiner (ICE) reserves the right to decline to consider disputes which have arisen outside this timescale. If, after 10 working days following notification of a dispute and reasonable attempts in that time to resolve any differences of opinion, there remains an unresolved dispute between the landlord and the tenant over the allocation of the deposit it will, subject to the statutory rights of either landlord or tenant to take legal action against the other remaining unaffected, be submitted to the ICE of the TDS for expert, impartial and third party adjudication. The landlord and the tenant agree to co-operate with his investigation. Where the sum in dispute is over £5000 the landlord and the tenant agree to submit to formal arbitration through the engagement of an arbitrator appointed by the ICE although, with written agreement of both parties, the ICE may at his discretion accept the dispute for informal adjudication. The appointment of an arbitrator will incur an administration fee of £235 shared equally between the landlord and the tenant; the liability for any subsequent costs will be dependent upon the award made by the arbitrator. There are not any costs for the actual adjudication process although any dispute that is submitted for arbitration will incur an administrative charge of £235 shared equally between the landlord and the tenant, or such sum as may from time to time be determined by the ICE. The liability for any subsequent costs will be dependent upon the award made by the arbitrator.